The Reserve Bank of Australia has resolved interest rates at 0.25%, despite the impact from the Covid-19.
The Reserve Bank of Australia (RBA) resolved to keep the policy interest rate at 0.25% at today's meeting. Although there are signs indicating that The domestic economy is being widely affected by the outbreak of the Covid-19 virus.
The Reserve Bank of Australia Governor Philip Lowe made a statement after the meeting today, confirming that the RBA will continue to hold interest rates at the level of 0.25%, a record low. And is the level that the RBA has set since theovic-19 virus. Began to spread
Mr Low said that the RBA predicted that the Australian economy will shrink by 10% in the first half of this year. Before contracting by 6% by the end of the year. However, it is expected that the economy may rebound by 6% in 2021
The RBA is scheduled to release its quarterly monetary policy statement on Friday. Which includes forecasting economic figures such as Gross Domestic Product (GDP), Unemployment Rate, Inflation And wage rates slotxo
