Interest Rate Update – August 2015

The Reserve Bank of Australia (RBA) has announced it will maintain the official cash rate at 2.00%.

The decision has been influenced by a low Australian dollar (currently under 73 U.S. cents), a low inflation rate which still falls short of the RBA’s target range of 2 to 3 per cent and a relatively stable unemployment rate of 6.0 per cent.

Although the RBA’s broader economic outlook will be released in its quarterly monetary policy statement on Friday it is unlikely we will see a change to the cash rate before the end of the year.

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