The Reserve Bank of Australia has left its benchmark interest rate at 1.75%
Today the Reserve Bank of Australia decided to leave interest rate unchanged at 1.75%, after it lowered it by 0.25% during the previous meeting. According to the Reserve Bank of Australia, at the moment the interest rate corresponds to the sustainable growth of the country. Support for the economy at the moment is the growth in exports and domestic consumption. According to our estimates, the growth of the Australian currency in the near future may continue, but its potential is low. The reason for reducing in the near future could be the decline in oil prices. Our medium-term outlook remains negative.
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