No Movement on Interest Rates in Reserve Bank Decision
As expected, there is no movement on interest rates in today’s Reserve Bank of Australia statement on monetary policy.
The Reserve Bank left the cash rate unchanged at 4.35%.
The Reserve increased the cash rate by 0.25% at its November meeting. Since then a 4.9% inflation rate has been recorded, easing the pressure on the bank for one more rate increase.
In its statement today, the Reserve Bank said: