The Board of the Reserve Bank of Australia decided, in its meeting this morning, Tuesday, in the Asian session, to keep its monetary policy and current interest rates at 0.10% unchanged, as was expected, and to continue buying government securities at a rate of 4 billion dollars per week until mid-February next year at least.

The report issued by the Bank indicated that the new Omicron strain is a source of uncertainty, but is unlikely to impede the economic recovery of Australia, and that the economy is expected to return to the pre-delta path in the first half of next year.

Inflation rates have risen, but basically they are still at 2.1%, while the main inflation rate in the consumer price index is 3%, affected by the rise in gasoline prices, high house prices and supply chain turmoil. Regarding the bond purchase program, the bank confirmed that it will consider it at its next meeting in mid-February.

Until that time, the bank will be committed to maintaining the current conditions that support the Australian economy and that the bank will not raise interest rates until the inflation figures are sustainably at the bank’s target.

So, there is nothing new in the meeting of the Reserve Bank of Australia, except for the positive and optimistic tone that the new variable is unlikely to affect the economic recovery, which has supported the gains of the Australian dollar so far, by trading it at 0.7083 levels against the US dollar, up more than 30 points.