Reserve Bank leaves cash rate at 0.1 pct
-
Summary:
The Reserve Bank has left the cash rate unchanged at its monthly board meeting, reiterating that it is unlikely to rise until 2024 at the earliest.
The cash rate remains at a record low 0.1 per cent, where it has stood since last November.
"The economic recovery in Australia is stronger than earlier expected and is forecast to continue," Reserve Bank governor Philip Lowe said in a statement on Tuesday.
"An important ongoing source of uncertainty is the possibility of significant outbreaks of the virus, although this should diminish as more of the population is vaccinated."
Dr Lowe noted that housing values have strengthened further, with prices rising in all major markets.
"Housing credit growth has picked up, with strong demand from owner-occupiers, especially first-home buyers. There h ...
Read Full News: https://au.finance.yahoo.com/news/bank-leaves-cash-rate-0-044340329.html