RBA holds cash rate at 0.10%
The Reserve Bank of Australia (RBA) has kept the cash rate at a record-low 0.10%, as the overwhelming majority of commentators expected.
Throughout this year, the RBA has said repeatedly it will not increase the cash rate until underlying inflation is within the 2–3% target range.
The RBA said this is unlikely to happen until 2024, because for inflation to rise, wages growth will first need to pick up from its current sluggish rate.
