{"id":27231,"date":"2020-09-02T09:32:30","date_gmt":"2020-09-01T21:32:30","guid":{"rendered":"https:\/\/propertynoise.co.nz\/au\/?p=27231"},"modified":"2020-09-03T07:50:58","modified_gmt":"2020-09-02T19:50:58","slug":"rba-holds-steady-ahead-of-grim-gdp-figures","status":"publish","type":"post","link":"https:\/\/propertynoise.co.nz\/au\/rba-holds-steady-ahead-of-grim-gdp-figures\/","title":{"rendered":"RBA holds steady ahead of grim GDP figures"},"content":{"rendered":"<p><strong>PHOTO: The Reserve Bank of Australia governor Philip Lowe has made its official interest rate decision for September. Images: Getty<\/strong><\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"23\"><a href=\"https:\/\/www.google.com\/url?client=internal-element-cse&amp;cx=007736748303843525207:i95wheizs-a&amp;q=https:\/\/propertynoise.co.nz\/au\/reserve-bank-considered-asking-private-firms-to-hide-data-about-slumping-property-prices\/the-reserve-bank-of-australia-2\/&amp;sa=U&amp;ved=2ahUKEwjZ3qPc88jrAhXTjOYKHY_7B_wQFjAGegQIARAC&amp;usg=AOvVaw2vaoHD40AVERIUV0w-QnKl\">The Reserve Bank of Australia<\/a> (RBA) has kept the official cash rate at its record low 0.25 per cent in its monthly board meeting.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"24\">It comes ahead of Wednesday\u2019s national accounts figures for the June quarter, with economists predicting a 6 per cent contraction in Gross Domestic Product (GDP). That would mark the largest contraction since the Australian Bureau of Statistics began measuring in the 1950s, and reflect the beginning of the first recession in nearly three decades.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"25\">The RBA first cut interest rates to their record low in March, with governor Philip Lowe saying the bank is unlikely to take rates any lower.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"26\">&#8220;Relatively speaking, the economic fallout of the coronavirus that is reverberating around global markets has not impacted Australia as hard as many other nations. Even considering Victoria\u2019s second wave and the potential for subsequent outbreaks elsewhere, employment figures are encouraging and other key indicators point to our economy\u2019s overall resilience,\u201d Laing+Simmons\u2019 managing director Leanne Pilkington said in the Finder RBA interest rate survey.<\/p>\n<p class=\"canvas-atom canvas-text Mb(1.0em) Mb(0)--sm Mt(0.8em)--sm\" data-reactid=\"27\">\u201cLow, steady interest rates for the foreseeable future are appropriate to support the recovery.&#8221;<\/p>\n<p data-reactid=\"27\">READ MORE VIA <a href=\"https:\/\/au.finance.yahoo.com\/news\/reserve-bank-of-australia-makes-september-interest-rate-decision-043037786.html\">YAHOO<\/a><\/p>\n<h3 class=\"widget-title\"><span class=\"accent-typo\">MOST POPULAR<\/span><\/h3>\n<ul class=\"widgets-list-layout no-grav\">\n<li><a class=\"bump-view\" title=\"Friends star selling \u2018kickass\u2019 Malibu house\" 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market<\/a><\/div>\n<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PHOTO: The Reserve Bank of Australia governor Philip Lowe has<span class=\"more-link\"><a href=\"https:\/\/propertynoise.co.nz\/au\/rba-holds-steady-ahead-of-grim-gdp-figures\/\">Read More &rarr;<\/a><\/span><\/p>\n","protected":false},"author":1,"featured_media":27232,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"footnotes":""},"categories":[461747081],"tags":[478098512,478100412,478111163,478098521,478108952,478098566,478098562,478108077,478108076,478098542,478098519,478098535,478098522,478098809,478098537,478098543,478111162,478098513,478101743,478099125,478098873,478098579,478098510,478098514,478098609,478098511,478098705,478098533,478098509,478104568],"class_list":["entry","author-data123nz","post-27231","post","type-post","status-publish","format-standard","has-post-thumbnail","category-australian-property-real-estate-news","tag-australia","tag-australian-bureau-of-statistics","tag-australian-gdp","tag-australians","tag-covid-19","tag-first-home-buyers","tag-foreign-buyers","tag-gdp","tag-gross-domestic-product","tag-home-loans","tag-home-ownership","tag-house-prices","tag-interest-rates","tag-landlords","tag-melbourne","tag-mortgages","tag-official-cash-rate","tag-property","tag-property-correction","tag-property-crash","tag-property-investment","tag-property-market","tag-property-news","tag-propertynoise","tag-rba","tag-real-estate","tag-real-estate-agency","tag-real-estate-agent","tag-real-estate-news","tag-the-reserve-bank-of-australia"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.6 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>RBA holds steady ahead of grim GDP figures - Property News Australia<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/propertynoise.co.nz\/au\/rba-holds-steady-ahead-of-grim-gdp-figures\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"RBA holds steady ahead of grim GDP figures - Property News Australia\" \/>\n<meta property=\"og:description\" content=\"PHOTO: The Reserve Bank of Australia governor Philip Lowe hasRead More &rarr;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/propertynoise.co.nz\/au\/rba-holds-steady-ahead-of-grim-gdp-figures\/\" \/>\n<meta property=\"og:site_name\" content=\"Property News Australia\" \/>\n<meta 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