As anticipated the Reserve Bank board maintained the official cash rate at 0.10% today.
Despite the economic handbrake from the latest round of COVID-19 lockdowns, some economists are speculating that the RBA has underestimated the strength of the economic recovery, leading to predications that rates will start to increase towards the end of 2022.
RBA governor Phillip Lowe is scheduled to hold a Q&A session following today’s meeting which is expected to shed more light on the central bank’s thoughts on the direction of monetary policy.
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