At its first Board meeting for 2020, the RBA has decided to leave the official cash rate at 0.75%.
In his announcement today, Reserve Bank Governor Philip Lowe stated:
“The outlook for the global economy remains reasonable. There have been signs that the slowdown in global growth that started in 2018 is coming to an end… One continuing source of uncertainty, despite recent progress, is the trade and technology dispute between the US and China, which has affected international trade flows and investment. Another source of uncertainty is the coronavirus, which is having a significant effect on the Chinese economy at present. It is too early to determine how long-lasting the impact will be.”
Please feel free to get in touch with Bez Esquivel if you have any questions about what this decision means to you or if there’s anything else you’d like to discuss.