World Economy

RBA Will Leave Rates on Hold

RBA Will Leave Rates on HoldRBA Will Leave Rates on Hold

The Reserve Bank of Australia is likely to hold its benchmark interest rate steady at its Tuesday meeting, with the main focus set to be on potential signals of future moves, reported. All 13 economists surveyed by AAP expect the cash rate to be held at its all-time low of 1.5% when the central bank’s board meets on Tuesday. The futures market indicates the chance of a rate cut is just 5%. The RBA has cut interest rates twice in the past four months in a bid to boost sluggish inflation. But the cuts are yet to show up in official data.