THE Reserve Bank has left interest rates on hold and is hinting at keeping them there for a long period.
The central bank today decided to keep a cash rate at a low 2.50 per cent.
It last changed the rate in August 2013, in the latest in a series of cuts which brought it down from 4.75 per cent.
Reserve governor Glenn Stevens said: ”Looking ahead, continued accommodative monetary policy should provide support to demand and help growth to strengthen over time.”
”Inflation is expected to be consistent with the 2–3 per cent target over the next two years.
”In the board’s judgment, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target.
‘O’n present indications, the most prudent course is likely to be a period of stability in interest rates.”
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