In the recent Reuters poll among 42 economists, it was predicted that the Reserve Bank of Australia (RBA) will retain its stable rates until next year.

In the recent Reuters poll among 42 economists, it was predicted that the Reserve Bank of Australia (RBA) will retain its stable rates until next year.

Forty-one respondents forecasted that the central bank would stick to its current rate during the policy meeting today (Sept.4), with only one believing that there will be a cut.

Reuters reported that the median results stayed the same when compared to the previous survey. Notably, though, a higher number of analysts now anticipate that the RBA will keep it low until 2020.

“Of the 34 economists who extended forecasts into 2020, 11 see a steady outlook, including Perpetual, Bank of America-Merrill Lynch, AMP, JPMorgan, Standard Chartered and Westpac.”

It is no secret that Governor Philip Lowe has repeatedly said rates will stay at “record lows” for a while as inflation continues to track below the bank’s 2-3 % target level.

For reference, RBA last decreased its rates to 1.50 % in August 2016. Meanwhile, rising to 4.75%, the interest rates were last increased in November 2010.

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