Signs of a slowing housing market and a looming federal election have kept Australian interest rates on hold for more than half a year.
The Reserve Bank of Australia's (RBA) decision this week to leave the cash rate unchanged for the sixth consecutive board meeting was widely anticipated.
The central bank last lifted interest rates by 25 basis point in both November and December last year, bringing the official cash rate to 5.25 per cent.
While today's decision was firmly priced into the market, economists are uncertain about when, if at all, another rise in interest rates will occur this year.
Most economists say the Reserve Bank is adopting a ‘wait and see’ approach to forthcoming rate moves.
