The RBA maintaining historically low 1.5% rate unchanged! Australian short jump

The Reserve Bank of Australia (RBA) rate meeting kept its benchmark interest rate: target for the overnight cash rate (ON Cash Rate) unchanged at 1.5% level, in line with market expectations, short-term rise in the Australian dollar.

Australia's Central Bank said on Tuesday, although several developed economies, labour markets, there have been significant improvements, but the current global economic growth rate is still below historic averages, showed growth momentum remains very worrying.

Again consider to currently global pass expanded rate, remains below most Bank of 2% target level, Australia currently pass expanded rate only for 1.3%, is below Australia Bank of 2% pass expanded target, is so to stimulus economic and reached pass expanded of can continued growth sex, Australia Bank select in this times of interest rate decision Conference Shang, maintained interest rate in history Shang most low of 1.5% not variable.

After the Reserve Bank of Australia and the statement mentioned recent raw materials market commodity prices rallied, reflecting strong market demand, as well as a number of countries on the supply side reforms, achieved significant results.

Although high raw material prices compared with previous years, the current raw material prices are still low, but the Reserve Bank of Australia believes that with the recent rise in raw material prices, and if the rally can be sustained warming estimated recovery of strength to drive Australia's export trade. After the statement was released after the Reserve Bank of Australia will, appreciation of the Australian dollar slightly, as 11:40 A.M., the Australian dollar came to 1 AUD/USD 0.7453, convergence day declines.