
The Reserve Bank of Australia has today announced the outcome of its monthly board meeting.
The RBA has decided the cash rate will stay on hold at 2.5 per cent, continuing a “period of stability” in the Australian economy.
Speaking to finder.com.au, AMP Capital’s chief economist Shane Oliver said the outlook for the economy has not changed significantly since the August board meeting, with the exception of a spike in unemployment.
“So no need to cut and no need to tighten,” Mr Oliver said.
“Next rate will be up but probably not to mid-2015 by which time the [US Federal Reserve] will likely have started to raise rates and the Australian economy should be on a firmer footing.”
Similarly, RP Data’s research director Tim Lawless said that with inter-quarter measures of inflation indicating consumer prices are not rising rapidly, it is likely that the RBA will continue to hold interest rates at their current level for the foreseeable future.
A former institutionally aligned adviser has pleaded guilty to obtaining financial advantage by deception, after he operated an early super access sch...
Ex-Liberal leader John Hewson has urged advisers to adopt a unified front in opposing the increase in red tape in the industry, accusing the governmen...
Adviser platforms are lagging globally when it comes to adding in the features that current and prospective clients want, according to new research. ...