On the first Tuesday of every month (except January) the Reserve Bank of Australia meet to make a decision on the cash rate. Depending on the economic conditions, the RBA may increase, decrease or leave the cash rate unchanged. Changes to the cash rate will affect the interest rate that banks and lenders will offer to borrowers.
Today, the RBA has left the cash rate UNCHANGED at 1.5%.
The RBA will next meet in June.
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