21:27, 31st August 2020 (RTTNews) - At 12:30 am ET Tuesday, the Reserve Bank of Australia announces its decision on interest rates. The Reserve Bank of Australia (RBA) has left the official cash rate on hold at 0.25%. Copyright(c) 2020 RTTNews.com, Inc. All Rights Reserved Ao acessar os serviços da ADVFN você estará de acordo com os The RBA is widely expected to keep its benchmark lending rate at 0.25 percent.Ahead of the announcement, the aussie held steady against its major rivals. Posted March 19, 2020 14:34:21 Even if they did, it would only have a small impact on mortgage rates.”Oliver argues while record low interest rates are helping to support the property market, other factors are having more of an influence.“High unemployment, the effect of the Victorian lockdown and weakness in the rental market are weighing more heavily on property than interest rates at the moment.”The likelihood the RBA will leave the cash rate at 0.25 per cent for some time is good news for mortgage holders, especially those facing financial challenges, says financial adviser Alex Jamieson from AJ Financial Planning.“Property investors can breathe a sigh of relief with interest rates expected to remain low for at least the next two years. The outlook for the global economy remains reasonable. That Australia has relatively high household debt but relatively low public debt also argues for fiscal policy to do more of the heavy lifting.”As a result, in the immediate term the housing market will require support in the form of fiscal measures such as the continuation of the JobKeeper and HomeBuilder programs or tax cuts. The RBA is widely … What you need to know about the RBA’s rate decision today – September 1, 2020 4:07pm These ASX stocks at earnings risks as the Aussie is forecast to hit US80 cents – September 1, 2020 … The full text of the RBA statement - 1 September 2020 At its meeting today, the Board decided to maintain the targets for the cash rate and the yield on … The RBA is widely expected to keep its benchmark … He also says any future decision by the RBA to drop the cash rate won’t have much effect on bank interest rates.“The RBA could drop the cash rate to 0.1 per cent but they don’t want to go to negative rates. RBA reduces interest rates to 0.25pc in special move amid coronavirus pandemic. With the Australian government bond only paying 0.26 per cent on a two-year term, this provides us with some indication of where the markets think the interest rates are headed, which is nowhere. At its meeting today, the Board reaffirmed the targets for the cash rate and the yield on 3-year Australian government bonds of 25 basis points, as well as the other elements of the package announced on 19 March 2020. Date 4 February 2020 At its meeting today, the Board decided to leave the cash rate unchanged at 0.75 per cent. The aussie was worth 78.25 against the yen, 1.6193 against the euro, 0.7406 against the greenback and 1.0953 against the kiwi as of 12:25 am ET. Investors now look ahead to the Reserve Bank of Australia's monetary policy decision due later today. In the RBA’s baseline outlook, the unemployment rate is expected to hit 10 per cent by the end of 2020, before falling gradually to 7 per cent over the next few years.
In the statement, the extension of various income support measures as a “welcome development”.“The bank has noted for a while monetary policy is close to exhausted and a fiscal response is a more effective form of support for the economy. “But any significant pullback in the business cycle or a prolonged recession could see the property market decline by between 3 per cent and 10 per cent.”GSFM investment strategist Stephen Miller says since the last RBA meeting, COVID-19 infection rates have climbed significantly in Victoria, which only serves to cement the central bank’s cautious approach to monetary policy.But he says while the RBA is unlikely to change the cash rate, it may use other tools in its arsenal. The market is pricing in no material hikes for the next two years,” he says.Jamieson says low interest rates should provide some support to the property market. It’s likely to be a similar story next month.So expect the RBA to leave the cash rate at 0.25 per cent in September as well.RBA interest rate decision: Cash rate on hold, economic outlook still ‘highly uncertain’The Reserve Bank has decided to hold the cash rate target at 0.25 per cent.
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