The interest rate has held at one per cent amid speculation weaker economic figures could emerge tomorrow.
Prime Minister Scott Morrison and Treasurer Josh Frydenberg are urging consumers and investors to look past the June quarter of national accounts, due out tomorrow.They say measures to boost growth such as tax cuts and the July interest rate cut to a record-low one per cent won't show up until the September quarter figures are released in three months' time.
"With the election falling in the middle of the June quarter and the ongoing impact of trade tensions abroad and devastating floods and drought at home we are expecting soft June quarter results on Wednesday," Mr Frydenberg told the Australian Financial Review today. Mr Morrison made similar comments on Monday, saying the government wouldn't respond to economic news with "knee-jerk reactions".
Economists did not expect another cash rate cut when the RBA board released its decision this afternoon.
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Aussie dollar slips to GFC lows, ASX to fall ahead of RBA rates decisionAustralian shares are expected to fall in early trade ahead of the Reserve Bank's interest rate decision and fresh Brexit concerns. 'Aussie dollar at GFC low Meanwhile, the Australian dollar has slipped to 67.18 US cents — a fresh 10-and-a-half year low, which takes it back to global financial crisis levels.'
Source: abcnews - 🏆 5. / 83 Read more »
RBA holds fire as it awaits data on struggling economyThe central bank has left official interest rates at a record-low 1 per cent as it awaits expected weak GDP data. swrighteconomy ErykBagshaw RBA can't save the economy. LNP are incapable. We're basically fkd swrighteconomy ErykBagshaw The economy isn't struggling, the $AUD is. swrighteconomy ErykBagshaw Central banks trying to look like they know what they’re doing....looking at ‘data’.....please. Jokers.
Source: smh - 🏆 6. / 80 Read more »
Aussie dollar slips to GFC lows, ASX to fall ahead of RBA rates decisionAustralian shares are expected to fall in early trade ahead of the Reserve Bank's interest rate decision and fresh Brexit concerns. 'Aussie dollar at GFC low Meanwhile, the Australian dollar has slipped to 67.18 US cents — a fresh 10-and-a-half year low, which takes it back to global financial crisis levels.'
Source: abcnews - 🏆 5. / 83 Read more »
RBA holds fire as it awaits data on struggling economyThe central bank has left official interest rates at a record-low 1 per cent as it awaits expected weak GDP data. swrighteconomy ErykBagshaw RBA can't save the economy. LNP are incapable. We're basically fkd swrighteconomy ErykBagshaw The economy isn't struggling, the $AUD is. swrighteconomy ErykBagshaw Central banks trying to look like they know what they’re doing....looking at ‘data’.....please. Jokers.
Source: smh - 🏆 6. / 80 Read more »
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Source: smh - 🏆 6. / 80 Read more »
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Source: SkyNewsAust - 🏆 7. / 78 Read more »