No change from RBA as lockdowns slow property growth
Extended lockdowns have shifted the Reserve Bank of Australia into spectator mode, with an expected economic contraction giving it no scope to hike the official cash rate from its current record low.
The RBA has little room to move as extended lockdowns start to put a dent in Australia's GDP. Photo: Shutterstock (Image source: Shutterstock.com)
Extended lockdowns have shifted the Reserve Bank of Australia into spectator mode, with an expected economic contraction giving it no scope to hike the official cash rate from its current record low.
The Reserve Bank of Australia made no change to its monetary policy at its monthly board meeting, reiterating its oft-repeated stance that it doesn’t expect economic conditions to warrant a rate hike until 2024 at the earliest.
Holding the official…
