The Reserve Bank of Australia has confirmed a rate pause will be considered in April, following the release of minutes from the March Monetary Policy meeting.
The RBA raised interest rates for the 10th consecutive meeting earlier this month, taking the cash rate target to 3.6%, which is the highest since 2012.
Whilst the board expects to raise interest rates further, it noted it would be appropriate at some point to hold the cash rate steady, and is determined to see inflation return to 2-3%, but likely not until mid-2025.
The RBA also announced the passing of former 80’s Governor, Robert Alan Johnston, who was 98.
He joined the Commonwealth Bank, which was later the Reserve Bank, at just 16.