The Reserve Bank of Australia has held the cash rate at a record low 0.75 per cent, as widely expected by economists.
Having delivered a third 0.25 percentage point cut in five months at its October meeting, the RBA has now paused so it can judge the economic impact of already low borrowing costs and government tax handouts.
Tuesday’s decision came hours after Treasurer Josh Frydenberg confirmed that there would be no change to the RBA’s longstanding 2.0-3.0 per cent inflation target, or the way it is held to account over how it tries to meet it.
-AAP
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