June 2020 Reserve Bank Decision

Posted on 2nd June 2020 by Ashley Dawson

At its meeting today, the Reserve Bank of Australia (RBA) has kept the official cash rate at the historic low of 0.25 per cent.

RBA governor Philip Lowe said in the previous meeting that the RBA is prepared to scale up its bond purchases if needed. They will do whatever necessary to ensure bond markets remain functional and achieve the yield target of 0.25 per cent on 3-year Australian Government bonds until progress is made towards full employment and inflation. The RBA is confident that inflation will be sustainably within the 2-3 per cent target band.

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