The RBA has today confirmed economists' expectations by keeping rates on hold at 4.25%.
The Reserve Bank chose to leave the cash rate untouched after last month indicating it would only move given a "material softening" in economic conditions. The result has confirmed a Bloomberg poll of 24 economists, who unanimously agreed the Central Bank would leave rates untouched.
The decision comes after the TD Securities - Melbourne Institute Monthly Inflation Gauge put inflation at the lower end of the Bank's 2-3% target band. However, TD Securities head of Asia Pacific Research Annette Beacher said employment, housing finance and exports had provided "upside surprises" for the bank.