Australia’s central bank left interest rates at record lows on Tuesday, the longest stretch without a change in almost three decades, and looked set to extend this period of “masterful inaction” for some time yet.As widely expected, the Reserve Bank of Australia (RBA) ended its April policy meeting with the benchmark rate at 1.5 percent, where it has been since a cut in August 2016. The run of 20 months without a move is the longest since the cash rate was first introduced in 1990.”Inflation is likely to remain low for some time, reflecting low growth in labour costs and strong competition in retailing,” said RBA Governor Philip Lowe in a brief statement.
Source: Australia’s central bank leaves rate unchanged at 1.50% – CNBC
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Craig Erlam
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