Australia’s central bank maintained its key interest rate and vowed to keep the record low rate for at least three years.

The policy board of the Reserve Bank of Australia headed by the governor Philip Lowe decided on Tuesday to leave its key rate unchanged at a record low of 0.10 percent.

The central bank holds the target for the yield on the 3-year Australian Government bond at around 0.1 percent and the parameters of the Term Funding Facility and the government bond purchase program.

The board will not increase the cash rate until actual inflation is sustainably within the 2 to 3 per cent target range, the bank said. Given the outlook, the board is not expecting to increase the cash rate for at least three years.

The board will keep the size of the bond purchase program under review, particularly in light of the evolving outlook for jobs and inflation. The board said it is prepared to do more if necessary.

The material has been provided by InstaForex Company – www.instaforex.com

Leave your vote

🚀If you want to get a Forex Robot Coded as per your trading strategy but are unable to do so because of the high price for the Robot then you can take advantage of the CROWD FUNDING campaigns feature. ✔ These are some crowd funding campaigns for Forex Robots, which when completed can provide the very same Forex Robot to the participants at an average price of $5-$10 per participant. ✔ You either participate in one of the already listed campaigns or send us your Forex strategy : Submit Crowd Funding Campaign , for which you would like the Forex Robot to be coded. A Crowd Funding Campaign would then be started for the same . ✔ All you have to do later on is to share the campaign online with your friends to encourage more people to participate in the campaign.

As a result, each participant can get that Forex robot for just a campaign contribution of $5 (which is the minimum). Participants can back the campaign by anything above or equal to $5 to reach the funding goal to close the campaign.