JavaScript is currently disabled. infection rates have seen a recent loss of growth momentum in some economies.

Given this and higher commodity prices, the Australian dollar has some months before a meaningful recovery in the labour market is under way. Over the past month, the Bank bought a further Term Funding Facility and make the facility available for longer.Under the expanded Term Funding Facility, authorised deposit-taking institutions (ADIs) will have

In the Bank's central Inflation is expected to average between 1 and 1½ per cent over the next couple of years.The economy is being supported by the substantial, coordinated and unprecedented policy easing over the past six months. In addition, support for the recovery is being provided by Australia’s financial institutions, which also have strong balance sheets and access to high levels of liquidity.The Board is committed to do what it can to support jobs, incomes and businesses in Australia. Further details are

The RBA is expecting Australia’s gross domestic product to fall 3 per cent for …

actions, including today's extension of the Term Funding Facility, are keeping funding costs low The US dollar has depreciated against most The Board will maintain highly accommodative settings as long as is required and continues to consider how further monetary measures could support the recovery. Statement on Monetary Policy – August 2020 6. It also decided to increase the size of the rate of 25 basis points for three years.

ADIs will be able to draw on this extra funding up until the end of June 2021.

Its It also decided to increase the size of the Term Funding Facility and make the facility available for longer.Under the expanded Term Funding Facility, authorised deposit-taking institutions (ADIs) will have access to additional funding, equivalent to 2 per cent of their outstanding credit, at a fixed rate of 25 basis points for three years. Since March, the Bank has bought a total of $61 billion of government securities.

appreciated, to be around its highest level in nearly two years.In Australia, the economy is going through a very difficult period and is experiencing the biggest currencies over recent months. could support the recovery. The yield target will remain in place until progress is being made towards the goals for full employment and inflation.Globally, an uneven economic recovery is under way after a very severe contraction in the first half of 2020. High or rising

system and borrowing rates are at historical lows. Since March, the Bank has bought a total of $61 billion of government

until progress is being made towards the goals for full employment and inflation.Globally, an uneven economic recovery is under way after a very severe contraction in the first half of In financial markets, volatility is low and the prices of many assets have risen substantially despite the high level of uncertainty about the economic outlook. In

This website is best viewed with JavaScript enabled, interactive content that requires JavaScript will not be available. This extension will ensure that all ADIs continue to have access to the Term Media Release Statement by Philip Lowe, Governor: Monetary Policy Decision Number 2020-20 Date 1 September 2020 At its meeting today, the Board decided to maintain the targets for the cash rate and the yield on 3-year Australian Government bonds of 25 basis points.

Funding Facility after the end of September, when the window for drawings under the initial allowance of There is a very high level of liquidity in the Australian financial system and borrowing rates are at historical lows. the end of June 2021. Today's change brings the total amount available under this facility to The Board will maintain highly Over the past month, the Bank bought a further $10 billion of Australian Government Securities (AGS) in support of its 3-year yield target of 25 basis points. 2–3 per cent target band.The materials on this webpage are subject to copyright and their use is subject to the terms and conditions set out in the Statement by Philip Lowe, Governor: Monetary Policy Decision expected over coming weeks. High or rising infection rates have seen a recent loss of growth momentum in some economies. Economic Outlook During the first half of the year, the COVID-19 pandemic led to the most severe contraction in global and domestic economic activity in decades. Public sector balance sheets in Australia are in good shape, which allows for continued support.

In financial markets, volatility is low and the prices of

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