RBA Says May Meeting Is ‘Opportune Time’ to Revisit Policy

Australia’s central bank expressed caution over future interest-rate cuts, saying May would be an “opportune time” to revisit policy settings, according to minutes of its April meeting that was held just before US President Donald Trump’ unleashed a wave of tariffs that have roiled global markets.

The Reserve Bank’s board reiterated that it was not yet possible to determine the timing of the next move in rates, according to minutes of the March 31-April 1 meeting released in Sydney on Tuesday. The board concluded that it was appropriate to leave the benchmark at 4.1%, having cut in February for the first time in four years, in the absence of any significant data to alter the outlook for Australia’s economy.