RBA March 2021

11 Mar

RBA holds cash rate steady at 0.10%

The Reserve Bank of Australia (RBA) announced the official interest rate is being held at 0.10% where it has been since November.

The move was widely anticipated as the RBA’s board has said they do not expect to increase the cash rate until inflation is within the 2-3% target band. This is not expected to happen for at least three years.

RBA governor Philip Lowe has previously said it’s “extraordinarily unlikely” interest rates will move into negative territory.

RBA MARCH 2021 STATEMENT

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