Business
RBA interest rates LIVE UPDATE; ASX gains ahead of RBA meeting – The Australian Financial Review
Australian stocks fall; Afterpay shares drop; Mesoblast completes $138m private placement; the RBA says it’s prepared to make further adjustments to its bond purchases…
The Reserve Bank of Australia held interest rates at 0.1 per cent and kept its quantitative easing programme unchanged at its Tuesday meeting.
The bank reiterated its expectation that it will likely hold rates at 0.1 per cent for the next three years to allow for the labour market to tighten and inflation to pick up to its target range of 2pc to 3pc.
Further progress in reducing spare capacity is expected, but it will be some time before the labour market is tight enough to generate wage increases…
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