The Reserve Bank of Australia has this afternoon announced the result of its monthly board meeting.
For the 16th consecutive month, the RBA has decided to keep the cash rate on hold at 2.5 per cent.
Speaking to comparison website finder.com.au, AMP Capital’s chief economist Shane Oliver said nothing has changed since the November meeting to justify a move.
ANZ’s Warren Hogan, head of ANZ Australia Economics and Interest Rate Research, said the economy is playing out “largely as expected” and the level of interest rates is appropriate given the outlook for the economy.
“With home value growth continuing to moderate in November and dwelling and work approvals recently slipping, there may be some concern that the housing market alone is not providing enough economic stimulus as the mining and resources investment activity subsides and commodity prices fall,” added CoreLogic RP Data research analyst Cameron Kusher.
“Nevertheless the RBA has again kept official interest rates on hold this month."
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