RBA rates likely to stay put for rest of year

The Reserve Bank’s official cash rate is likely to stay on hold for the foreseeable future, according to leading industry stakeholders.

AMP’s chief economist Shane Oliver said the minutes from the Reserve Bank’s latest Board meeting reinforced the position that the RBA is comfortable with the current monetary policy setting.

“The RBA is comfortable with current interest rate settings for now,” Mr Oliver said. “We still see more rate cuts but it may not be for a few months.”

Mr Oliver’s comments were echoed by Mortgage Choice chief executive officer Michael Russell who said it was all but certain that the Reserve Bank would opt to keep the official cash rate on hold for the rest of the year.

Source: The Adviser