SINCE 1997

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RBA releases minutes as world counts hours to war

The RBA has stoically sat tight on official interest rates since November 2020 and it seems only war or another pandemic variation can shake their commitment to sitting tight for a while longer yet.

Tank in Kiev with Ukrainian flag on mast from turret
War and a tanking global economy appear the biggest immediate threat to the RBA's continued interest rate stasis.

The Reserve Bank of Australia (RBA) has not lifted interest rates for 135 months, or more than 11 years, and in doing so has further cemented its international record for the length of time a major central bank had gone without a raise.

In keeping the official cash rate at 0.1 per cent for a fifteenth consecutive month, it may look like the burghers of the RBA are on autopilot.

But the decision on 1 February to hold rates steady

yet again took …