The Reserve Bank board will consider sparing borrowers from an 11th consecutive rate rise at its next meeting as it assesses whether it has done enough to tame inflation.
The Reserve Bank of Australia board will consider a pause on further interest rate rises at its April 4 meeting, sparing borrowers from an 11th consecutive increase as it assesses whether it has done enough to tame inflation.The minutes from the March 7 meeting reveal that the board will consider keeping the cash rate on hold at 3.6 per cent at the next meeting if the economy shows signs of softening.
“At what point it will be appropriate to pause will be determined by the data and the board’s assessment of the outlook.”expectations of further rate rises following the failure of US-based Silicon Valley Bank and UBS’ takeover of its rival Credit Suisse.Markets expect the central bank to keep rates on hold at its next meeting, but most economists forecast another 0.25 percentage point increase.
Two of the four data points have since been released and were stronger than expected, with the unemployment rateKey concerns
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