Australia's central bank keeps rates low

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Following the meeting on May 7, the Reserve Bank of Australia did not change the base interest rate, leaving it at a record low level of 1.5% per annum. Analysts had expected easing of the monetary policy of the Australian Central Bank amid weak inflation and slowing economic growth. There are bets in the financial markets that the regulator will reduce the rate two times until the end of the year, which has remained unchanged since 2016. The report of the Reserve Bank of Australia indicates the need to take measures to achieve inflation by a target value of 2-3%, among which are the improvement of the labor market and the reduction of unemployment. The head of the Australian Central Bank, Philip Lowe, expects that this year unemployment will remain at the current level of 5% and then fall to 4.75%. After the publication of the decision of the Central Bank, the Australian dollar rose by 0.8%.

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