As expected, the RBA maintained its cash rate at a record low 0.10% earlier on Tuesday. In the rate statement, Governor Philip Lowe said that the global economy continued to improve, but noted that the war in Ukraine was "a major new source of uncertainty". Lowe warned that inflation would continue to rise and that the RBA was projecting inflation to hit 3.25% in the coming quarters. This is significant because it indicates that the central bank expects inflation to rise above the bank's 2-3%
01-03-2022 06:39 GMT
by Kenneth Fisher
