Reserve Bank pauses interest hikes for first time in 21 months
OCR remains unchanged at 5.5%, with Monetary Policy Committee saying recent economic indicators suggest near-term growth likely to remain weak.
Illustration: Michael Hickmott.
The Reserve Bank has sat on its hands, leaving the Official Cash Rate unchanged at 5.5%.
The seven-member Monetary Policy Committee reached a consensus at today’s meeting to hit the pause button, after consistently hiking rates 12 consecutive times over the past 21 months.
This afternoon’s
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