# Statement by Philip Lowe, Governor: Monetary Policy Decision - July 2017 | Media Releases | RBA

> The RBA board kept the cash rate unchanged at 1.50 per cent in its July 2017 decision. The statement said global growth has picked up, commodity prices have risen, and US interest rates are expected to rise further. It also noted that inflation has softened recently due to lower oil prices.

- Date: 2017-07-04 · published 2017-07-04T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/70239-statement-by-philip-lowe-governor-monetary-policy-decision-july-2017-media
- Commodities: [Crude Oil (WTI)](https://feedsoft.ai/c/WTI.md)

## Why it matters

A steady RBA with expected US rate increases keeps the interest rate gap in play for the Aussie dollar, and lower oil prices weigh on energy-linked costs.

## Read by commodity

- WTI: bearish ▼

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| WTI | 2022-12-14 | [Currencies: Volatility Due to Monetary Policy Decisions in Europe - Stocks and Securities \| Investments and Western Union Money Transfers Colombia](https://feedsoft.ai/events/38505-currencies-volatility-due-to-monetary-policy-decisions-in-europe-stocks-and.md) | +1.9% | +5.0% |
| WTI | 2025-04-30 | [Colombia Monetary Policy April 2025 - FocusEconomics](https://feedsoft.ai/events/25408-colombia-monetary-policy-april-2025-focuseconomics.md) | -2.3% | +1.5% |
| WTI | 2022-09-26 | [Commodity prices down last week amid hawkish monetary policies, recession fears](https://feedsoft.ai/events/11907-commodity-prices-down-last-week-amid-hawkish-monetary-policies-recession-fears.md) | +1.0% | +8.1% |
| WTI | 2017-01-18 | [C$ pares recent gains ahead of Bank of Canada rate decision](https://feedsoft.ai/events/73219-c-pares-recent-gains-ahead-of-bank-of-canada-rate-decision.md) | +0.4% | +1.4% |
| WTI | 2025-08-19 | [Canada’s annual inflation rate eases to 1.7 per cent in July, core measures stay firm - Grainews](https://feedsoft.ai/events/23560-canada-s-annual-inflation-rate-eases-to-1-7-per-cent-in-july-core-measures-stay.md) | +1.4% | +1.0% |

## Sources

- rba.gov.au: https://www.rba.gov.au/media-releases/2017/mr-17-13.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.