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1.Market Observations, 8.Was Sticky

3 Oct 2018 (AFR) – Reserve Bank of Australia keeps cash rate at 1.5pc

(3 October 2018, AFR, p9, by Sarah Turner)

‘The Reserve Bank of Australia held its cash rate steady on Tuesday, as the central bank showed no signs that fallout from the royal commission and an accelerating house price decline will deter it from a patient policy stance. The central bank has held interest rates steady at at 1.5 per cent since cutting the country’s cash rate by 25 basis points in August 2016, a move that heralded the start of a record-breaking run of monetary policy inaction. The RBA has stated that the next move in interest rates is more likely to be up than down, but has also said it is prepared to be patient as it awaits stronger wages growth to feed through to sustainably higher inflation.’

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