# Statement by Philip Lowe, Governor: Monetary Policy Decision - December 2016 | Media Releases | RBA

> The Reserve Bank of Australia kept its cash rate at 1.50 percent on December 6, 2016. The statement noted that commodity prices had risen during 2016 on stronger demand and supply cuts, lifting Australia's terms of trade.

- Date: 2016-12-06 · published 2016-12-06T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/73721-statement-by-philip-lowe-governor-monetary-policy-decision-december-2016-media
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Higher commodity prices support Australian export income, but a steady rate keeps the Australian dollar firm, which can slightly raise the cost of Australian feed exports. The effect on feed prices is limited.

## Read by commodity

- AUDUSD: bullish ▲

## Sources

- rba.gov.au: https://www.rba.gov.au/media-releases/2016/mr-16-30.html

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