The Reserve Bank of Australia has left the cash rate at a record-low 1.5 per cent, as sluggish wage growth and inflation put the board in a holding pattern for the 17th meeting in a row.
- Eryk Bagshaw
- The Sydney Morning Herald
Reserve Bank governor Philip Lowe used the word “gradual” to describe Australia’s economic recovery three times in his short statement on monetary policy on Tuesday, indicating the bank is in no rush to raise interest rates from their historic lows.
Providing some relief to heavily indebted homeowners, the market has in effect ruled out a change before November.
Up to 80…