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RBA Discussed Cutting Rates But Saw No Near-Term Case for a Move

  • RBA recognizes it’s not possible to ‘fine tune’ policy outcome
  • Likelihood of scenario where rates rise in near term low: RBA
Reserve Bank of Australia Headquarters Ahead of Rate Decision
Photographer: Brendon Thorne/Bloomberg
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Australia’s central bank discussed interest-rate cuts in a review of policy scenarios at its April 2 board meeting and concluded there was “not a strong case” for an adjustment in the near term.

The Reserve Bank conceded rates were unlikely to need to rise in the period ahead and decided standing pat would allow it to be “a source of stability and confidence.” It acknowledged the impact of further easing would be “smaller than in the past” because of high household debt and declining property prices.