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Economists predict RBA will keep rates

Economists predict RBA will keep rates article image

The Reserve Bank will hold their monthly meeting on interest rates tomorrow, where economists expect them to retain the current interest rate of three percent, according to a survey conducted by Australian Associated Press. If this is the case, it will be the third month in a row that the rate has remained the same. The last movement was a 0.25 percent cut in April. While the economic forecast for the near future was consistent, differing views emerged for the end of the year with various economists predicting another rate cut, but others expecting a rise in line with recovery. All agreed that Australia was in a better position than most other countries, however, with the Reserve Bank still enjoying a buffer to play with.

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