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rate cut Tag

[dropcaps]M[/dropcaps]ortgage holders hoping for a third successive rate cut will have to wait at least another month after the Reserve Bank of Australia today left the official interest rate on hold at 3.5 percent. Announced at 2.30pm AEST, the RBA board's decision comes as no surprise to economists who widely backed no change to the official cash rate this month. "At today's meeting, the board judged that, with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate," RBA governor Glenn Stevens said in a statement. A survey of 21 economists conducted by AAP earlier this week found unanimous belief that rates would stay on hold following the release of positive employment and GDP figures. The RBA has slashed...