Look both ways on interest rates

A lot depends on the Australian dollar and continuing global economic recovery. The Reserve's statement suggests the bank's next policy move could be up or down.

There were no surprises at the Reserve Bank board meeting, with rates remaining at a historically low level. The next move in rates could be determined by the Australian dollar, with the governor again noting that it was uncomfortably high.

 At its meeting on Cup Day, the board decided to leave the cash rate unchanged at 2.5 per cent. It was the first time since 2005 that the meeting was not considered ‘live’, with little doubt about the outcome.


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