RBA minutes show no consideration for March rate hike
The Reserve Bank of Australia, during its March meeting, refrained from evaluating the possibility of raising interest rates further, which is a departure from its previous pattern of consistently considering this option during its aggressive series of rate hikes.
However, according to the minutes of its meeting held on March 18-19, which were made public on Tuesday, the members of the RBA's board acknowledged that the inflation outlook remained uncertain. They stated that additional time was necessary to eliminate the possibility of any future increases in interest rates, and therefore chose to maintain the current rate of 4.35%, which is at its highest level in 12 years.
RBA predicts that inflation, which is currently at 3.4 percent according to the latest data, will decrease and align with its target range of 2 to 3 percent by December 2025.
Investors anticipate that the RBA will reduce interest rates in the future, though an easing cycle is unlikely to begin in the near term. The RBA is scheduled to convene on May 6-7, and it is expected that they will once again maintain their current key interest rate without making any changes.
Disclaimer: The content above represents only the views of the author or guest. It does not represent any views or positions of FOLLOWME and does not mean that FOLLOWME agrees with its statement or description, nor does it constitute any investment advice. For all actions taken by visitors based on information provided by the FOLLOWME community, the community does not assume any form of liability unless otherwise expressly promised in writing.
FOLLOWME Trading Community Website: https://www.followme.com
If you like, reward to support.
Hot
No comment on record. Start new comment.