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RBA Keeps All Monetary Policy Unchanged

After the interest rate meeting on Tuesday (7th), as the market expected, the Reserve Bank of Australia announced that all monetary policies would remain unchanged, and the interest rate remained at a historical low of 0.1%. In its statement, the RBA stated that although it has noticed the variant virus Omicron, it does not believe that the virus is capable of reversing the recovering Australian economy. Regarding the inflation outlook, the Reserve Bank of Australia stated that inflation has indeed rebounded, but it is still low, and there has been no significant increase in wages. For this reason, the bank maintains its weekly debt purchase policy of A$4 billion and will review it again in February next year. The market estimates that as the epidemic slowly passes, the global economy restarts, and when the Bank of Australia reviews its monetary policy in February next year, it does not rule out that the Bank of Australia will directly end all its debt buying activities.
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