It appears that the Central Bank of Australia will keep interest rates at the current level, at least until mid- 2020, the recent series of weak economic data eliminated any likelihood of an earlier rate hike.
Last week, the Reserve Bank of Australia (RBA) left rates at a record low of 1.50 percent, for 28 consecutive months, and was an expected step. Most experts already expected a rise not earlier than mid-2020, but disappointing GDP data in the third quarter and low retail sales in October forced the market to completely eliminate the possibility of a rate hike even in 2020. Only a few analysts who took part in the survey predict at least one campaign in March 2020. Earlier, the assistant to the head of the RBA, Chris Kent, reiterated that the next step to raise rates is likely to be economic growth amid expectations of a gradual increase in inflation, but if necessary, a reduction is possible, Kent added.
