Central Banks

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The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 25th consecutive meeting. Household consumption remains a source of uncertainty. Low rates seen supporting economy.

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 22nd consecutive meeting. Household consumption remains a source of uncertainty. Inflation seen lower at 1.75% well below the bank's 2-3% Band. 

The Federal Reserve as expected left rates unchanged after a two day meeting on Wednesday with Jerome Powell as Chairman. Markets had priced in a 90% chance of no hike. As expected they issued a statement saying strong growth and inflation on target.

The Bank of Japan delivered its Statement on Monetary Policy and made policy changes as rumored, changing the long term yield target, flexible guidance and is maintaing low rates for 'a very long period of time' with the aim of a sustainable stimulus..

ECB interest rates on the main refinancing operations and the interest rates on the marginal lending facility and the deposit facility will remain unchanged. 

The Bank of Japan frustrated with stubborn low inflation is actively looking to revamp policy before it's July meeting Reuters is reporting sources saying. Changes to its interest-rate targets and stock-buying techniques are on the table with the aim of a sustainable stimulus..

The Federal Reserve released it's Biege Book Wednesday with the focus on wages and labor markets. The labor market continues to confound the bankers as despite a tight labor market restraining growth wage pressure remains modest.

Federal Reserve Chairman Jerome Powell testified before the Banking Housing and Urban Affairs of the US Senate Tuesday. The stock market which had been sold off after Netflix missed earnings rebounded as did the US dollar on his words. 

With Trade Wars all around us Federal Reserve Chairman Jerome Powell sat down with marketplace radio and waxed lyrical about the Fed and the economy. However he admitted to being puzzled and not having an answer on why wages aren't higher.

The Reserve Bank of Australia (RBA) as expected kept interest rates on hold at the historic low of 1.5 per cent for the 21st consecutive meeting. Household consumption remains a source of uncertainty. Wage growth remains low, likely to continue for a while.

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