The Reserve Bank of Australia has moved to keep the cash rate on hold at 1.5 per cent at today’s board meeting.
The decision to hold the RBA cash rate at 1.5 per cent falls in line with expectations held by members of the ANU Centre for Applied Macroeconomic Analysis (CAMA) RBA Shadow Board, of which around 60 per cent predicted rates would remain at their current level.
“We are going through a fairly steady period where interest rate cuts are likely not to help even though the labour market is very weak,” said ANU Emeritus Professor and CAMA RBA Shadow Board member Bob Gregory.
AMP Capital chief economist Shane Oliver said that Australia’s economic growth had “bounced back nicely” in the December quarter, reducing the need for further rate cuts.
“We now expect the RBA to leave rates on hold for the rest of the year; another rate cut is still possible but it would require another leg down in inflation to get the RBA to cut again,” he said.
An Australian CEO says there are certain myths about digital advice and compliance within the advice industry, one of which is that ASIC is not suppor...
The Your Future, Your Super reforms could put advisers under fresh scrutiny, this time directed from their clients. ...
Business owners and advisers must move now on SME tax debt disclosure as the ATO starts to turn its focus on it, according to a non-bank lender. ...
Get notifications in real time and stay up to date with content that matters to you.
