At its meeting on Tue 4.2.2014, the Reserve Bank Board decided to leave the cash rate unchanged at 2.5%. Bank Governor Glenn Stevens said the Board judged that the setting of monetary policy remained accommodative. In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. Mr Stevens said that on present indications, the most prudent course is likely to be a period of stability in interest rates.

[LTN 22, 4/2/14]