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RBA left interest rates unchanged

Tuesday, May 02 2017
RBA left interest rates unchanged

At its meeting today, the Board decided to leave the cash rate unchanged at 1.50 per cent. In the following Statement the Bord stated that inflation picked up to above 2 per cent in the March quarter in line with the Bank’s expectations. In underlying terms, inflation is running at around 1¾ per cent, a little higher than last year. A gradual further increase in underlying inflation is expected as the economy strengthens.

Taking account of the available information, the Board judged that holding the stance of monetary policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time.

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