Weekend Economist: Saving private wealth

The biggest concern for the Reserve Bank ahead of this week's rates decision will be the cautious consumer, but it may only be a matter of time before the 'wealth effect' kicks in.

The Reserve Bank Board meets next week on July 1. We expect it 
to leave the official cash rate unchanged at 2.50 per cent. We expect the governor's statement accompanying the decision to retain the key line that "the current accommodative stance of policy [is] likely to be appropriate for some time yet".


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