While Melbourne Cup Day often brings a surprise, the Reserve Bank’s decision on the official cash rate earlier today contained no surprises, with confirmation the rate will remain at 0.10%.

In line with previous commentary, the RBA has confirmed the view that it won’t be rushing into a rate hike, making it abundantly clear it wants to see that inflation is sustainably within the 2-3% target range.

While Melbourne Cup Day often brings a surprise, the Reserve Bank’s decision on the official cash rate earlier today contained no surprises, with confirmation the rate will remain at 0.10%.

In line with previous commentary, the RBA has confirmed the view that it won’t be rushing into a rate hike, making it abundantly clear it wants to see that inflation is sustainably within the 2-3% target range.

The RBA’s stance on rate hikes continues to confirm it remains committed to maintaining highly supportive monetary conditions to achieve a return to full employment with wages growth of around 3% or more.

 

If you have any questions about this announcement or interest rates, please feel free to contact us.

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