At its meeting on Tue 5.3.2013, the Reserve Bank Board decided to leave the official cash rate unchanged at 3%. The Board said “with inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is appropriate”. It added that the “inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand.”
[LTN 43, 5/3/13]