Just in, the Reserve Bank of Australia (RBA) has announced it will hold the official cash rate at 1.50% in October.
Handed down by the new Governor of the Reserve Bank, Dr Phillip Lowe, the decision reflects ‘concerns of weakness in the global banking sector, and signs of strength in the US economy.’
Whilst the strength of the AUD against the greenback has factored heavily in the past RBA decisions this year, today’s hold may also be in participation of new inflation data.
For a detailed breakdown of the latest RBA decision, click here.
source: onthehouse.com.au
