Australia™s central bank kept interest rates unchanged as it waits for three cuts since June to flow through to areas of the economy beyond the property market. Reserve Bank Governor Philip Lowe and his board kept the cash rate at 0.75% Tuesday, in line with expectations of economists and money markets. He will want to hold onto his remaining conventional ammunition -- estimated at two more cuts -- and monitor the impact of earlier easing and recent government tax rebates. The RBA™s final meeting of the year sees policy makers no closer to reviving wages growth and...
Federal Reserve officials reduced interest rates by a quarter-percentage point for the third time this year and hinted they may now put monetary policy on hold, for one meeting at least. The Federal Open Market Committee altered language in its statement following the two-day meeting Wednesday, dropping its pledge to œact as appropriate to sustain the expansion, while adding a promise to monitor data as it œassesses the appropriate path of the target range for the federal funds rate. As with the September statement, the FOMC cited the implications of global developments in...
Australian central bank chief Philip Lowe reiterated that hes prepared to ease policy further if needed, but again pushed back against the idea of interest rates turning negative in his economy. The Reserve Banks board has reduced borrowing costs three times in the past five months as it tries to boost economic growth and encourage hiring. At 0.75%, the record-low cash rate is also helping keep a lid on the local currencyas other major central banks ease in response to heightened international risks, ranging from the U.S.-China trade war to...
The European Central Bank (ECB) kept rates unchanged on Thursday “ in what marks Mario Draghis last monetary policy meeting at the bank. The Frankfurt-based central bank had announced last month a massive stimulus package to boost the euro area. This included a 10 basis point cut to the deposit rate, new lending conditions to commercial banks as well as a second round of quantitative easing. Draghis decision sparked some division within the central bank. Minutes from the meeting revealed that some of Draghis colleagues were not on board with the decision. Mario Draghi will...
The Reserve Bank of Australia came with the Minutes for the RBA Board's 1 October meeting. Members commenced their discussion of global economic conditions by noting that heightened policy uncertainty was affecting international trade and business investment. This had continued to be apparent in a range of indicators, including new export orders and investment intentions. Conditions in the manufacturing sector had remained subdued, partly because of ongoing US“China trade tensions. These tensions had led to a contraction in bilateral trade between the United States and China, which was...
European Central Bank officials were far apart on the elements of the monetary stimulus package that led to public acrimony after last months decision. The account of the Sept. 11-12 meeting showed some members of the Governing Council were ready to back an even deeper cut in interest rates in exchange for dropping the proposal to restart bond purchases. Others needed convincing about reducing rates at all because of concern about the possibility of increasingly adverse effects. œA number of reservations were expressed about individual elements of the proposed policy package,...
Bank of England Governor Mark Carney said on Monday that the possibility of Britain leaving the European Union next month without a transition deal ranked as the riskiest Brexit scenario for the...
Bank of Japan maintains 10-year JGB yield target at about zero percent after ending a two-day meeting on Tuesday.
Keeps policy balance rate at -0.1%.
Central bank leaves forward guidance and asset...