August 2019 - Pearl Financial

Monthly Archives: August 2019

Aug 07

RBA Have Made Their August Cash Rate Announcement

By Editorial Team | News

The RBA (Reserve Bank of Australia) has announced their August cash rate. The central bank has kept its Cash Rate on hold its record low of 1.0% as they wait for the effect of the rate cuts from the previous months (June and July) on the economy that with two 25 basis point cuts totaled to 50 basis points.

The basis point cuts came after almost 3 years without any changes, and it was linked to the weakening of the labor market and for the low inflation rate. Whereas the cash rate hold today was already expected because economists have been predicting to have up to two more cuts before this year ends.

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