At its meeting on Tue 2.4.2013, the Reserve Bank Board decided to leave the official cash rate unchanged at 3%. The Board said “[i]nternationally, financial conditions are very accommodative” and that “[i]n Australia, growth was close to trend”. In addition, it indicated that “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”.
[LTN 61, 2/4/13]