Website Notifications

Get notifications in real-time for staying up to date with content that matters to you.

RBA reveals cash rate decision

rba  x rba  x
Reporter 4 minute read

The Reserve Bank of Australia has announced the decision of its monthly board meeting.

Board members decided to leave the official cash rate at the record low 1.75 per cent following a 25 basis point cut last month.

All of the 31 economists and commentators surveyed by comparison website finder.com.au predicted no change to the cash rate today. The majority of respondents cited a need to assess the impact the May rate cut would have on the economy as the reason the RBA would hold rates this month.

“RBA to take a wait-and-see approach after last month’s cut with data remaining mixed,” Domain chief economist Andrew Wilson said.


BIS Shrapnel’s Richard Robinson said the May cut successfully engineered a fall in the Australian dollar, which the RBA desired.

“Although inflation is low, deflation is unlikely (oil prices have already risen sharply since January) and the economic growth is sufficient to prevent a marked increase in the unemployment rate. Better to leave some rate cuts for later, when they might need them,” Mr Robinson said.

While all the experts surveyed predicted the cash rate to hold this month, 68 per cent believe it would drop again this year.

Of the 21 experts who are predicting another cash rate cut in 2016, 45 per cent have tipped for it to occur in August, while 12 per cent reckon the cut will come in September, and 13 per cent expect the RBA to wait until November.

RBA reveals cash rate decision
rba  x
TheAdviser logo

Grow your business exponentially in 2022!


Discover the right strategies to build a more structured, efficient and profitable businesses at The Adviser’s 2022 Business Accelerator Program.

Visit the website here to secure your ticket.

rba  x


more from the adviser
tech tools

Breaking News

FICO launches new loan-origination platform

The US analytics company has launched a new digital loan originat...

Liberty A League partnership ta

Breaking News

Liberty scores A-League Women’s football naming partnership

The non-bank lender has become the official naming partner of the...

house sold

Breaking News

Hot Property: The biggest property headlines from the week 29 November - 3 December

The weekly round-up of the biggest news stories from across Momen...