6/28/2021 3:09:29 PM GMT Major central bank rundown Reserve Bank of Australia, Governor Phillip Lowe, 0.10%, Meets July 14 Holding still Once again the June 01 RBA meeting was uneventful. No rate hikes expected until actual inflation is within the 2-3% range and supportive monetary conditions (low rates etc) are to be maintained in order to support a return to full employment and for inflation to be consistent with this target. The labour market is not expected to be tight enough to spur higher age growth (and therefore inflation with it) until 2024. So, on hold with rates until 2024 is the mantra. The RBA noted that significant outbreaks of the COVID-19 virus remain, but as more people get vaccinated this risk should fade. The RBA still sees inflation in underlying terms remaining low and underneath the central bank targets. The economic recovery is stronger than earlier expected and is forecast to continue. The Bank’s central scenario is for GDP growth by 4.75% and 3.5% over 2022. Progress in reducing unemployment has been faster than expected with unemployment expected to drop to around 5% by the end of this year.