RTTNews reports that the policy board of the Reserve Bank of Australia decided to leave its cash rate unchanged at a record low of 0.10 percent. The board maintained the target of 10 basis points for the April 2024 Australian Government bond.
The board also voted to continue with the purchase of government securities at the rate of A$4 billion a week until at least mid February 2022.
The bank repeated that it will not increase the cash rate until actual inflation is sustainably within the 2 to 3 percent target range. The central scenario for the economy is that this condition will not be met before 2024.
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