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The RBA has decided to leave the official cash rate unchanged at 1.5% for the 28th consecutive time and I’d like to share some thoughts on why the Reserve Bank of Australia has made this decision.
Following its February meeting, the RBA said the case for the next rate move to be a decrease was now almost equal to the case for an increase and that it would continue to watch the economy closely for signs around its key objectives of decreasing unemployment and increasing inflation. It will also be watching property markets, particularly in Sydney and Melbourne, very closely as prices continue to fall.