Welcome Guest! | World Time






New York

Australia's central bank leaves cash rate on hold at 1.5 percent

Tuesday,   06-Nov-2018   11:54 AM (IST)

The Reserve Bank of Australia has kept the official cash rate on hold at the record low of 1.5 per cent for the 27th consecutive month. The RBA last cut the cash rate in August 2016, following an earlier cut to 1.75 per cent in May. There has not been an official cash rate increase since November 2010. Thanks to sluggish wage growth, weak household spending and the cooling housing market, most analysts don’t expect rates to rise until some time next year, with the RBA also dropping hints a change was unlikely.