The central bank is expected to oversee a “straightforward” meeting this week, after last week’s inflation result took the heat out of tightening fears.
Already a subscriber?Evidence that inflation is cooling has given the Reserve Bank confidence to rule out further tightening and extend a period of stability for the cash rate at this week’s policy meeting, according to economists.
Likewise, Commonwealth Bank economist Stephen Wu said this week’s meeting should “be a straightforward one”. “Monetary policy operates with a lag, so rate cuts need to start ahead of inflation reaching target,” she said. “If the board waits too long, it will risk undershooting the target for no benefit.”
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