Australia’s central bank ends bond buying, in no rush on rate hikes

Author of the article: SYDNEY — Australia’s central bank kept its cash rate at a record low of 0.1% on Tuesday and ended its A$275 billion ($194.40 billion) bond buying campaign as expected, but pushed back on market wagers for an early rate rise. Wrapping up its February policy meeting, the Reserve Bank of Australia…
Australia’s central bank ends bond buying, in no rush on rate hikes

Author of the article:

SYDNEY — Australia’s central bank kept its cash rate at a record low of 0.1% on Tuesday and ended its A$275 billion ($194.40 billion) bond buying campaign as expected, but pushed back on market wagers for an early rate rise.

Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) emphasized that ceasing bond purchases did “not imply” a near-term increase in interest rates and the Board was still prepared to be patient.

“As the Board has stated previously, it will not increase the cash rate until actual inflation is sustainably within the 2 to 3% target range,” RBA Governor Philip Lowe said in a brief statement. “While inflation has picked up, it is too early to conclude that it is sustainably within the target band.” ($1 = 1.4146 Australian dollars) (Reporting by Wayne Cole; Editing by Sam Holmes)

Financial Post Top Stories

Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc.

By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300

Read More

Total
0
Shares
Leave a Reply

Your email address will not be published.

Related Posts
Fire at Sinopec Shanghai Petchem plant kills one
Read More

Fire at Sinopec Shanghai Petchem plant kills one

Author of the article: A fire broke out at a Sinopec Shanghai Petrochemical Co Ltd plant in Shanghai early on Saturday, killing one person, the company said. Roaring fire was seen engulfing part of a sprawling factory, emitting columns of thick black smoke, in a video posted on Twitter by the state-backed Shanghai Daily. The…
Russia build-up triggering Ukraine capital outflow, Czech minister says
Read More

Russia build-up triggering Ukraine capital outflow, Czech minister says

Author of the article: Reuters Jan Lopatka and Robert Muller PRAGUE — Ukraine’s economy is already feeling the impact of Russia’s military build-up through capital flight and will require stabilization from abroad, Czech Foreign Minister Jan Lipavsky said on Wednesday. Lipavsky, speaking after a two-day visit to Ukraine which included a trip to the frontline…
Voxtur Analytics to Host First Quarter 2022 Earnings Call
Read More

Voxtur Analytics to Host First Quarter 2022 Earnings Call

Author of the article: TORONTO and TAMPA, Fla., May 25, 2022 (GLOBE NEWSWIRE) — Voxtur Analytics Corp. (TSXV: VXTR; OTCQB: VXTRF) (“Voxtur” or the “Company”), a North American technology company creating a more transparent and accessible real estate lending ecosystem, announced today that it plans to release financial results for its first quarter ended March…