Seeking Alpha

Australia keeps interest rates at record low

  • The Reserve Bank of Australia has left its overnight cash-rate target at a record low of 2.5%, as anticipated, and again indicated that it expects a "period of stability in interest rates."
  • "The decline in the exchange rate from its highs a year ago will assist in achieving balanced growth in the economy, but less so than previously as a result of the rise over the past few months," said RBA Governor Glenn Stevens.
  • The S&P/ASX 200 closes -0.1%, while the Australian dollar is +0.1% at $0.9272. (PR)
  • ETFs: FXA, EWA, AUD, AUSE, CROC, AUNZ, KROO, EWAS, GDAY, FAUS
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