RBA keeps rates on hold at 1.5% – Macquarie Bank insight

This month’s Reserve Bank of Australia interest rate policy meeting delivered no surprises, with interest rates kept on hold again at 1.5%.

The minutes from the last Reserve Bank of Australia meeting gives us some insight that there remains enough spare capacity in the Australian economy for the inflation outlook not to warrant higher interest rates just yet.

Macquarie has adjusted its estimate of the timing of any future rate rise to early 2019.