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RBA cash rate to stay at record low
Last week’s subdued inflation figures ensured the Reserve Bank won’t be changing its view on the interest rate outlook any time soon. The central bank will hold its monthly board meeting on Tuesday where it is more than likely to keep the cash rate, and other key policies, at a record low 0.1 per cent. RBA governor Philip Lowe is expected to reiterate that interest rates won’t rise until inflation is back in the two to three per cent target band, an event it doesn’t see happening until 2024. At this stage, and with the consumer price index posting an annual rate of 1.1 per cent in the March quarter and ... (full story)