Rates to stay low for some time

Official interest rates look set to stay where they are at 2.5 per cent because Australia’s currency remains high.

The minutes of its April meeting show the Reserve Bank decided to leave the cash rate at a record low believing the most prudent course would be “a period of stability in interest rates”.

“The cash rate could remain at its current level for some time if the economy was to evolve broadly as expected.”

Source: The Age