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Benign inflation levels have kept interest rates at 6.25 per cent for the seventh month in a row, with this month's Reserve Bank announcement confirming economists' predictions for a stable rate environment for the coming months.
“There was no surprise ... we’re seeing inflationary pressures ease and we expect, and have for a while now, that interest rates will remain on hold for the rest of the year,” Commonwealth Bank economist Martin Arnold explained to The Australian.
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“The Reserve Bank will be keeping an eye on things like wage pressures, rents ... but we’re seeing labour supply increase so we’re not seeing excessive wages growth – so that hasn't been feeding into inflationary pressure,” he says.
