The Reserve Bank left the cash rate at 1.50%, at its monthly meeting today.
The bank’s board set the rate at the historic low of 1.50%.
The bank’s Governor, Glenn Stevens, said inflation is “quite low” and is expected to remain that way “for some time”.
Stevens said: “In Australia, recent data suggest that overall growth is continuing, despite a very large decline in business investment, helped by growth in other areas of domestic demand and exports. Labour market indicators continue to be somewhat mixed, but suggest continued expansion in employment in the near term.” [Read more…]