RBA Interest Rate Announcement May 2015
The RBA today has decided to cut interest rates by 0.25% today. It was a relatively short release from the RBA today.
Here is the summary of what the RBA said:
- The global economy is moving at a moderate pace. Same as last month.
- Other major central banks are increasing the pace of unconventional policy measures (aka quantitative easing).
- Australian business spending (capex) and government spending (budget) is likely to be subdued.
- Inflation is in target range. Same as last month.
- Household lending is only increasing moderately. Same as last month.
- RBA sees risks in the Sydney property market.
- Australian dollar is still high and likely to devalue given lower commodity prices.
More details at http://www.rba.gov.au/media-releases/2015/mr-15-08.html
Disclaimer: This shouldn’t be considered investment advice and is only a general comment that doesn’t take in to account your specific circumstances.
For more, go back to the full interest rate announcement list here.