Cash Rate Unchanged

Following its monthly board meeting, the Reserve Bank of Australia has today announced the official cash rate for November. 

The RBA has again chosen to keep the cash rate at 1.5 per cent, a move predicted by most industry experts.

None of the surveyed experts predicted a rate change, despite some economic indicators showing signs of a slowdown.

Chief economist at ABC Bullion Jordan Eliseo correctly predicted that these slowdowns would not be enough to influence the RBA to impose a rate cut.

Mr Eliseo said: “Despite concerns about a slowdown in retail sales growth over the last few months, the RBA still appears confident in the outlook for the Australian economy, though [its] rhetoric around tightening policy has changed appropriately.”