The Reserve Bank of Australia has kept the official cash rate on hold at 1.5 percent in October. This marks thirteen consecutive meetings that have seen the historic low cash rate remain on hold, with the last movement being a 25 basis point rate cut in August 2016.
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As expected, the Reserve Bank of Australia (RBA) has again left the official cash rate on hold at 1.5 per cent, marking one year since the last move. This decision comes ahead of the release of the bank’s Quarterly Statement on Monetary Policy (SoMP) this Friday.
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The Reserve Bank has maintained the official cash rate at 1.5% at its first meeting for the year on 7th February 2017.
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The Reserve Bank has confirmed its decision to leave the official cash rate unchanged at 1.5 per cent during the board’s final monetary policy meeting for the 2016 year. This announcement, coupled with minor monetary policy changes, comes just in time for the Christmas holidays.
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System Upgrade
My Viewpoint (MVP) internet banking and LCU phone banking have been upgraded. The upgrade includes some great new features in My Viewpoint (MVP) internet banking.
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