Powered by MOMENTUM MEDIA

RBA cash rate remains on hold in April

By Reporter
 — 1 minute read

The Reserve Bank of Australia has decided to keep the official cash rate on hold at 2 per cent after its third meeting this year.

With unemployment falling to 5.8 per cent and inflation firmly within its target band at 1.7 per cent, the RBA has kept the official cash rate on hold at 2 per cent at its meeting today.

The decision is in line with the ASX 30 Day Interbank Cash Rate Futures market, which was pricing in a 93 per cent chance of 'no change' to the official cash rate.

Advertisement
Advertisement

In its monthly meeting, the ANU Centre for Applied Macroeconomic Analysis (CAMA) RBA Shadow Board said the outlook for the Australian economy "looks much the same as the previous month".

"[The CAMA Shadow Board] continues to have a strong preference for keeping the cash rate on hold, attaching a 69 per cent probability to this being the appropriate policy setting," it said.

Ninety-seven per cent of the economists surveyed by finder.com.au predicted there would be "no change" to the RBA cash rate this month.

AMP Capital chief economist Shane Oliver said that while the RBA retains an "easing bias", recent data pointing to stronger economic growth means the central bank is "unlikely to act on that bias just yet".

Join the debate to improve the issues that surround affordability and accessibility within the advice industry at ifa’s brand-new event, ifa Future Forum.

Join your peers to uncover game-changing industry solutions to pave the way for solving the problem of accessibility and affordability. Utilise your extensive knowledge to formulate ideas and help futureproof advice. Register your free place now! ifafutureforum.com.au

 

RBA cash rate remains on hold in April
investordaily image
ID logo

 

related articles

Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.