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The RBA has left interest rates on hold at 0.1% – and a strongly rebounding economy means that s unlikely to change any time soon Jack Derwin RBA Governor Philip Lowe is upbeat on the Australian economy. (Image by Christopher Pearce, SMH)
The Reserve Bank of Australia (RBA) has kept the official cash rate on hold at 0.10% at its May meeting.
While the RBA is now forecasting a stronger recovery and full employment to be achieved in two years, it isn t expected to touch interest rates for a few years yet.
Economists believe though it will begin to soften its language later this year, with the RBA unlikely to keep its word of making it to 2024 without a hike.
RBA Governor Philip Lowe is upbeat on the Australian economy. (Image by Christopher Pearce, SMH)
The Reserve Bank of Australia (RBA) has kept the official cash rate on hold at 0.10% at its May meeting.
While the RBA is now forecasting a stronger recovery and full employment to be achieved in two years, it isn’t expected to touch interest rates for a few years yet.
Economists believe though it will begin to soften its language later this year, with the RBA unlikely to keep its word of making it to 2024 without a hike.
The Australian economy is expected to bounce back far better than first forecast, but the country’s central bank isn’t in a rush to dial back support.