MNI BRIEF: RBA Holds At 4.1%, Bullock Holds Steady
The Reserve Bank of Australia board held the cash rate steady at 4.1% for the fourth consecutive month Tuesday.
In a sign of stability, newly installed Governor Michelle Bullock made little change to the previous Governor Philip Lowe’s Sept 5 statement. However, Bullock did highlight rising services and fuel prices as areas of concern.
The decision to hold the cash rate steady was largely in line with market expectations. (See MNI RBA WATCH: Board To Consider Fourth Pause At 4.1%).
Bullock will provide greater detail on the Board’s decision at the Australian Financial Security Summit in Sydney on Oct 18.