RBA

The RBA has made an emergency interest rate cut in the face of the coronavirus pandemic, slashing them to a new record-low of 0.25 per cent.

The RBA made the move largely in an attempt to counter the economic damage from the global coronavirus spread and the recent bushfire crisis here at home.

X-factors have played a large part in today’s decision from the Reserve Bank to keep interest rates on hold at 0.75 per cent.

Major bank economists are expecting the RBA to cut interest rates to a new record-low of 1.5 per cent in February but there’s plenty of industry opposition to it.

Australia’s central bank say they will reassess the economic outlook at their first meeting next year and market economists say it could mean an early rate cut.

The Reserve Bank governor has essentially ruled out the possibility of Australia using negative interest rates or other unconventional policies to stimulate the economy.

The Reserve Bank has left rates unchanged on Melbourne Cup Day for 2019 as most economists expected.

It looks as though interest rate cuts from the Reserve Bank are done for the year after inflation rose to 1.7 per cent in the September quarter.

The nation’s central bank didn’t stop there, indicating it will cut rates again if employment, economic growth and the global economy don’t improve.

The Reserve Bank left interest rates on hold yesterday but many economic experts think they’ll be cut again as soon as next month.