The Reserve Bank kept the cash rate steady at 3.6% at today’s meeting. In its post-meeting statement, the central bank said the monetary policy board
judged that it was appropriate to remain cautious.
This pause follows three cuts earlier this year — in February, May and August, each by 25 basis points — which lowered the cash rate from 4.1% to its current level. Governor Michele Bullock said the bank is watching those previous cuts work through the economy.
