RBA comfortable sitting at 4.75 per cent

The RBA board opted to keep the official cash rate at 4.75 per cent on Tuesday for the sixth straight meeting.

The decision to keep rates on hold was expected by a majority of economists but the RBA's comments to imply there's less chance of an early interest rate increase than they previously expected.

“The RBA hasn’t suggested that rates will have to rise again but that it will watch the evolving outlook,” ANZ Bank economist Katie Dean said.

“It suggests that the central bank is quite comfortable with rate settings,” she said, who added that there was nothing in the text of the RBA’s statement to suggest a rate rise was likely in July.

Source: Sydney Morning Herald