Statement by Philip Lowe, Governor: Monetary Policy Decision

Media Release Number 2021-14: At its meeting today, the Board decided to maintain the cash rate target at 10 basis points and the interest rate on Exchange Settlement balances of zero per cent, maintain the target of 10 basis points for the April 2024 Australian Government bond, and continue to purchase government securities at the rate of $5 billion a week until early September and then $4 billion a week until at least mid November.