RBA maintains course as cash rate stays on hold
The Reserve Bank of Australia has kept the official cash rate on hold at its record low and maintains that it is unlikely to increase it before 2024 even as economists and experts continue to speculate that an earlier rise is on the cards.
The RBA says Australia's economic recovery has been strong, but not strong enough for it to increase the official cash rate. Photo: Shutterstock (Image source: Shutterstock.com)
The Reserve Bank of Australia has kept the official cash rate on hold at its record low and maintains that it is unlikely to increase it before 2024, even as economists and experts continue to speculate that an earlier rise is on the cards.
RBA governor Philip Lowe said while Australia’s economic recovery and progress in reducing unemployment had been faster than anticipated, inflation and wage pressures remained subdued.
Dr Lowe said the RBA w…
