For the first time in almost 3 years, the base interest rate was reduced by the Reserve Bank of Australia by 0.25 percentage points to 1.25% per annum, which is a record low. This decision of the Australian regulator was aimed at stimulating employment growth. It also, in its opinion, is a guarantee of maintaining inflation at the medium-term target level. Some analysts predict that the Central Bank of Australia may reduce the base rate to 0.5% by mid-2020. The regulator expects inflation to accelerate in the near future, despite the low inflationary pressure on the economy. The Central Bank also notes the likelihood of a slowdown in the global economy amid heightened risks associated with the intensification of trade wars.
South African economy shrank in the first quarter at a record pace in 10 years06.06.2019
Australia's GDP grew in the first quarter at the lowest pace in 10 years06.06.2019
The World Bank lowered its forecast for global economic growth for 201930.05.2019
Bank of Canada expectedly kept interest rates unchanged