RBA leaves rates on HOLD! Cash rate has been left unchanged at 1.50%.
As expected, the Reserve Bank of Australia has left the cash rate unchanged at its March 2017 monthly board meeting.
There was “no clear argument” for the RBA to lower the cash rate further. The Australian economy is tracking along steadily at the moment, with Dec quarter results showing a 1.1% increase in GDP. It wasn’t surprising to see the Reserve Bank opt to leave the cash rate on-hold for another month. The sentiment amongst experts and economists has shifted to approx 68% chance of the next RBA move being an upward one.
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