As expected, the Reserve Bank of Australia (RBA) announced its decision to keep interest rates unchanged at 0.25%, at its monthly meeting this morning.
In the interest statement accompanying the decision, the bank emphasised the uncertainties resulting from the coronavirus outbreak and its impact on the global and local economy, especially the sharp rise in unemployment rates.
However, the bank tried to calm the markets by indicating that the world economy may start recovering in the coming period against the backdrop of monetary and fiscal stimulus measures that most countries have adopted to address the risks of the outbreak.
