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RBA holds steady ahead of grim GDP figures – Yahoo Finance Australia
The Reserve Bank of Australia has kept interest rates on hold amid a $21,000 home loan warning.
The Reserve Bank of Australia (RBA) has kept the official cash rate at its record low 0.25 per cent in its monthly board meeting.
It comes ahead of Wednesdays national accounts figures for the June quarter, with economists predicting a 6 per cent contraction in Gross Domestic Product (GDP). That would mark the largest contraction since the Australian Bureau of Statistics began measuring in the 1950s, and reflect the beginning of the first recession in nearly three decades.
The RBA first cut …
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