The RBA has held the cash rate at a record low of 1.5 per cent, a move predicted by most industry pundits amid mixed economic conditions.

Economist at AMP Capital Shane Oliver observed: “Growth has picked up a bit and the RBA is optimistic, but inflation and wages remain too low, property prices are falling in Sydney and Melbourne, the housing construction cycle has peaked and uncertainty remains around the outlook for consumer spending. So, it’s way too early to hike, but it’s hard to mount a case for a cut either right now. So, best to remain on hold.”

Rick Maggi