RBA signals further rate cuts unlikely

Reserve Bank of Australia governor Glenn Stevens has signalled the official cash rate is unlikely to see any more cuts, although he’s unsure how long it will stay at its current record low.

Speaking to the House of Representatives Standing Committee on Economics, Stevens said there is likely to be a period of stability.

“I haven’t said how long a period because I don’t know...That's a bit of a shift on our part, where we had been saying that there might be scope to go down a bit more if needed; I don't think we do need to, at this point in time,” he says.

“I think if it's possible for there to be a period of stability, then that in itself at the margins is probably helpful to people.”

This article first appeared on SmartCompany.