Stock market quotes, forex, financial news, forex tools – money-investing.com

Reserve Bank of Australia sets historical minimum

 Breaking News
  • US Ministry of Energy predicts reduction of oil prices The US Ministry of Energy has published a monthly report, which turned out to be discouraging. It is expected that in the last quarter of this year the price for...
  • 28 Chinese companies are blacklisted by the US Everyone knows that just in few days two powerful states China and the USA – are starting the next round of the negotiations. Official Beijing has announced that it is...
  • Startup WeWork again in spotlight We have been writing about the startup WeWork, which was forced to postpone the initial public offering. They earn by renting commercial space for a long time in order to...
  • Massive cuts in HSBC HSBC Holdings Plc, the largest bank in Europe and one of the most significant and serious players in the global financial market, has announced the launch of a cost-optimization program....
  • Oil quotes still wait for negotiations Today, at 8.15 a.m. Moscow time, futures for Brent crude oil were trading in London for $ 58.31 per barrel. This is only 0.1% below the closing price of the...
Reserve Bank of Australia sets historical minimum
October 01
13:00 2019

Intension in the financial markets has affected the economies of all countries without exception. In the fight against the “world entropy”, Australia’s main regulator decided to protect the national economy from external risks. The strategy has resulted in the third consecutive reduction of the key rate to a historic low of 0.75% per annum.

Philip Lowe, current Governor of the Reserve Bank of Australia, explained that the primary goal of cutting the rate was to reduce unemployment to the target level of 4.5%. At the moment, the number of the unemployed Australians is 5 %. He also said that his agency was ready to further soften policies in order to counter the global slowdown of the economic growth.

Experts believe that the Australian economy has free capacity, which will be stimulated by the reduced rate. This, in turn, will create new jobs.

By the way, the Australian dollar continues to smoothly decline. According to the results of the third quarter, the drop has amounted to 3.8%.

 

The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group

Related Articles

0 Comments

No Comments Yet!

There are no comments at the moment, do you want to add one?

Write a comment

Write a Comment