The minutes of the Reserve Bank of Australia meeting held on October 5, which was released today, Tuesday, showed in the Asian session, where the Reserve Bank of Australia maintained low interest rates at 0.10% and decided to continue buying government securities at a rate of 4 billion dollars per week until February of the year Next, to say the least.

Council members emphasized that the outbreak of the new delta strain in Australia had halted the economic recovery and caused a decline in GDP growth in the third quarter, but the economy is expected to rebound in the fourth quarter with higher vaccination rates and the easing of restrictions and to return to a pre-delta trajectory in the second half of Next year .

Disruptions in global supply chains affected the prices of some commodities, but their impact was limited on inflation in Australia, as low interest rates and a bond purchase program contributed to supporting the Australian economy.ط

The Board reiterated that it will commit to maintaining the current monetary policy and will not raise interest rates until employment returns to its pre-pandemic levels and inflation stabilizes at the bank’s target of between 2-3% in a sustainable manner.

The Australian dollar is trading at 0.7466 levels against the US dollar, up more than 40 pips, taking advantage of the US dollar’s declines.