Australia kept key interest rate at 2%

Noam Stiekema

Australia kept key interest rate at 2%, which is a record level. However, the Australian Central Bank said there is still the possibility of loosening the policy. The last institution adopted a course correction at the rate of May 5. Since then, Australia kept key interest rate and the central banker are waiting to see […]

Reserve bank of Australia

Reserve bank of AustraliaAustralia kept key interest rate at 2%, which is a record level. However, the Australian Central Bank said there is still the possibility of loosening the policy. The last institution adopted a course correction at the rate of May 5. Since then, Australia kept key interest rate and the central banker are waiting to see what will be the impact, if any, from lower interest on growth. Australian Central Bank noted that “will inform the evaluation board (central bankers – note. Ed.) Whether the current stance of monetary policy most effectively promote sustainable growth and inflation consistent with the target”. Depending on changing conditions institution can discover the rate further.

Australian economy expanded by 2.3% in the first quarter compared to the same period last year, surpassing forecasts of most experts. Surveyed by Reuters analysts predicted an increase of 2.1% annual growth after growth of 2.50% in the last quarter of 2014. The Australian economy was hampered by the sharp decline in commodity prices, weaker external demand and the persistently high level of unemployment. The budget deficit is extremely high, as estimated by Deloitte will reach a whopping $ 46 billion. Australian dollars this year. The analysis experts accelerate fears that the country’s top AAA rating may be at risk.

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