The Reserve Bank of Australia has left the official cash rate unchanged at 2% for the month of April.
The official cash rate was last cut in May last year by 25 basis points.
This means the RBA has left the cash rate unchanged for 11 months in a row.
RBA governor Glenn Stevens said in a statement monetary policy needs to remain accommodative given “quite low” inflation.
“At today’s meeting, the board judged that there were reasonable prospects for continued growth in the economy, with inflation close to target,” Stevens said.
“The board therefore decided that the current setting of monetary policy remained appropriate.”
You can help us (and help yourself)
Small and medium businesses and startups have never needed credible, independent journalism and information more than now.
That’s our job at SmartCompany: to keep you informed with the news, interviews and analysis you need to manage your way through this unprecedented crisis.
Now, there’s a way you can help us keep doing this: by becoming a SmartCompany supporter.
Even a small contribution will help us to keep doing the journalism that keeps Australia’s entrepreneurs informed.