What you need to know about the RBA’s rate decision today

The Reserve Bank of Australia (RBA) has good news for ASX investors but not so good news for workers.

Our central bank believes it will need to keep pumping liquidity into the market and the job market won’t be firing on all cylinders for at least three years.

Equity markets have developed an unhealthy addiction to monetary stimulus and this is one of the key reasons that have sent stocks soaring since March.

RBA to act as safety net for ASX stocks

The S&P/ASX 200 Index (Index:^AXJO) surged 45% since the COVID‐19 market low and investors will keep partying into 2021 as the RBA isn’t showing any signs of removing the punch bowl.

While RBA Governor Philip Lowe kept the current policy settings, the Reserve Bank appears to be…