RBA announces October cash rate

The central bank has announced its cash rate decision for October following its monthly board meeting. Following its monthly board meeting, the Reserve Bank of Australia (RBA) announced that it has held the official cash rate at 1.5 per cent. All 31 economists surveyed by rate comparison website predicted the RBA’s verdict, citing uncertainty in domestic and foreign markets. Over 90 per cent of brokers surveyed by mortgage marketplace HashChing also predicted a rate hold, while the remaining 9.4 per cent anticipated a hike. Prior to the RBA’s announcement, economist at Corinna Economic Advisory Saul Eslake noted that while economic growth is “above trend”, weaker than expected


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