RBA expected to keep rates on hold

The Reserve Bank of Australia is widely expected to keep the cash rate on hold this afternoon when it makes its decision at 2:30pm. RBA Governor Philip Lowe has previously said the cash rate will most likely be kept on hold until 2023. The RBA will also provide an update on its bond purchases after it recently began buying an additional $100 billion of government bonds on top of the $100 billion worth previously purchased to stimulate the economy.

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