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The Reserve Bank of Australia will not be affected, RBA



The Reserve Bank of Australia will not be affected, RBA

The Reserve Bank of Australia will not be affected by recent rate cuts overseas, newly appointed deputy governor Andrew Howson has signaled this week after interest rate cuts by Canadian and European central bankers.

Reserve Bank of Australia

In his first public comments since his appointment to the post in November, Mr Hauser, formerly a senior Bank of England official, said that while other central banks had previously moved to cut rates , Australia, like other economies, faced similar difficulties. In reducing inflationary pressures.

“We all face the same fundamental challenge, which is sticking to the path of inflation, especially service price inflation,” Mr. Hauser said.

The Bank of Canada on Wednesday became the first central bank in the Group of Seven to provide interest rate relief to borrowers, cutting its overnight rate to 5% after headline inflation fell to 2.7% in April. Reduced from 4.75% to 4.75%.


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