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 May 2017 monthly board meeting.
This decision was widely anticipated by economic and finance experts across the country given the current national and international environment.
With inflation trending higher rather than lower, there was no need for the Reserve Bank to cut rates again, according to CommSec economist Savanth Sebastian. “Similarly, rate hikes are off the agenda for now. Given the slow growth in wages and range-trading in global oil prices, it is unlikely to result in a change to the domestic inflation landscape.”
There seems to be “insufficient drivers” to force the RBA to adjust rates at this time
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