The Reserve Bank has kept the official cash rate at a record low 0.10%, for the 12th month in a row.
At today's meeting, the RBA confirmed the official cash rate will remain at 0.10% which was highly expected from industry professionals.
"The Australian economy is recovering after the interruption caused by the Delta outbreak", RBA Governor Philip Lowe said in his post-meeting statement. In previous statements made, Dr Lowe consistently said it was unlikely that interest rates would be lifted before 2024, however, he did not provide this reassurance in his statement today.
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