The Reserve Bank of Australia has made no change to the official cash rate, opting to keep it on hold at 2 per cent for the month of February.
The RBA's decision is in line with wide spread sentiment shared by market commentators.
According to Commonwealth Bank chief economist Michael Blythe, the economy currently does not need "additional stimulus", and that the low Australian Dollar is doing the job.
For AMP Capital Shane Oliver, the RBA is not ready to make another change to the interest rate.
"I think that given the emerging softening in the housing cycle, the ongoing mining downturn and renewed global market turmoil that the risks to growth are on the downside and given very low inflation the RBA should ease again," he said.
"But I don't think its convinced just yet."
SUBSCRIBE TO THE IFA DAILY BULLETIN
- 20 Oct 2017Parliamentary insurance group formedBy Staff Reporter
- 20 Oct 2017Treasurer introduces BEAR legislationBy Aleks Vickovich
- 20 Oct 2017Westpac to refund $65m to customersBy Annie Kane
- 20 Oct 2017Survey tips independent takeoverBy Aleks Vickovich and Jessica Yun
- 18 Oct 2017AFA suffers budget blowoutBy Killian Plastow
- 18 Oct 2017ISA ups ante on governance lobbyingBy Aleks Vickovich
- view all