AFP, SYDNEYAustralia’s central bank yesterday kept interest rates on hold at a record low, despite expected economic pain from the country’s devastating bushfire crisis and a coronavirus outbreak in China. The Reserve Bank of Australia (RBA) has kept the cost of borrowing unchanged since lowering rates to 0.75 percent in October last year as part of efforts to extend a record 29-year run without a recession. However, many analysts believe rates could be cut further in the coming months. The People’s Bank of China on Monday trimmed some interest rates and injected massive liquidity into the financial system to shore up slumping markets. By contrast, a reduction is expected tomorrow in the Philippines, which has reported the first death from coronavirus outside China.

Source: Taipei Times February 04, 2020 15:56 UTC