Reserve Bank opens door to cutting interest rates

The Reserve Bank surprised markets yesterday by suddenly introducing the possibility of rate cuts, announcing it's next interest rate move could be either up or down.

As expected, the bank kept its official cash rate at 3.5 per cent at yesterday's review but the real news for the market was the bank's comment that it expected to keep the rate on hold for some time.

The Reserve Bank surprised markets yesterday by suddenly introducing the possibility of rate cuts, announcing it’s next interest rate move could be either up or down.

As expected, the bank kept its official cash rate at 3.5 per cent at yesterday’s review but the real news for the market was the bank’s comment that it expected to keep the rate on hold for some time.

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