RBA Leaves Cash Rate Unchanged Talk to us Phone us Email us Breadcrumbs UniBank About Us Member news & media 2014 RBA Leaves Cash Rate Unchanged 06 May 2014 06 May 2014 RBA Leaves Cash Rate Unchanged The Reserve Bank of Australia at it’s meeting today, Tuesday 6 May 2014, has decided to leave the cash rate unchanged at 2.50% p.a. The following is an excerpt from the official RBA Media Release; “At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent. Growth in the global economy was a bit below trend in 2013, but there are reasonable prospects of a better outcome this year, helped by firmer conditions in the advanced countries. … In Australia, the economy grew at a below-trend pace in 2013. Recent information suggests moderate growth is occurring in consumer demand and foreshadows a strong expansion in housing construction. Some indicators of business conditions and confidence have improved from a year ago and exports are rising. But at the same time, resources sector investment spending is set to decline significantly and, at this stage, signs of improvement in investment intentions in other sectors are only tentative, as firms wait for more evidence of improved conditions before committing to expansion plans. Public spending is scheduled to be subdued. … Looking ahead, continued accommodative monetary policy should provide support to demand, and help growth to strengthen over time. Inflation is expected to be consistent with the 2–3 per cent target over the next two years.” Read the full media release on the RBA website.
