RBA Update – Interest Rates are on hold

At its latest meeting, the Reserve Bank Board announced it was leaving the cash rate unchanged at 3.85 per cent.

Please click here to view the Statement by the Monetary Policy Board: Monetary Policy Decision.

The RBA had been widely expected to cut rates again after a decline in inflation and softer GDP growth.

With the cash rate 50 basis points lower than five months ago and wider economic conditions evolving broadly as expected, the RBA judged that it could wait for a little more information to confirm that inflation remains on track to reach 2.5 per cent on a sustainable basis.

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