RBA governor Dr Philip Lowe. Source: AAP.
Small businesses can expect variable rates on SME loans to remain low and a more competitive labour market following the Reserve Bank of Australia’s board meeting yesterday.
On Tuesday, the Reserve Bank decided to keep the April 24 bond as the bond for the yield target, to continue buying government bonds after the current $100 billion bond purchase program finishes, and to maintain the cash rate target at 0.10%.
Leading economist Saul Eslake says despite the Reserve Bank’s view that it won’t need to start raising the cash rate until 2024, there’s a growing chance that it will move earlier than that.
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