Reserve Bank of Australia (RBA): Interest Rate News & Analysis

Central Banks Fundamental Outlook

BankRateChange *Date of changeNext MeetingInflation TargetExpectation
Federal Reserve (FED)0.25%-10015-Mar-2022-Sep-212%4
European Central Bank (ECB)0.00%-510-Mar-169-Sep-213%2
Bank of England (BoE)0.10%-1519-Mar-2023-Sep-212%3
Bank of Canada (BoC)0.25%-5027-Mar-208-Sep-212% +/- 1% 3
Bank of Japan (BoJ)-0.10%-1029-Jan-1622-Sep-212%1
Reserve Bank of Australia (RBA)0.10%-153-Nov-207-Sep-212%-3%1
Reserve Bank of New Zeeland (RBNZ)0.25%-7516-Mar-206-Oct-212% +/- 1%4
Swiss National Bank (SNB)-0.75%-5015-Jan-1523-Sep-21<2%3

* The latest change in the policy rate in basis points


The RBA left its Cash Rate unchanged at 0.10% as expected; maintains its tapering plan with weekly purchases at AUD 4bln

The RBA left its Cash Rate unchanged at 0.10% as expected; maintains its tapering plan with weekly purchases at AUD 4bln
  • The Board's decision to extend the bond purchases at $4 billion a week until at least February 2022 reflects the delay in the economic recovery and the increased uncertainty associated with the Delta outbreak.
  • This setback to the economic expansion is expected to be only temporary. The Delta outbreak is expected to delay, but not derail, the recovery.
  • The Board is committed to maintaining highly supportive monetary conditions to achieve a return to full employment in Australia and inflation consistent with the target. It will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range.
  • This bounce-back and it is likely to be slower than that earlier in the year.

Note, one of the major newswires reported the QE decision as a "hold", although the official RBA release states "purchase government securities at the rate of $4 billion a week and to continue the purchases at this rate until at least mid February 2022."

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