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Reserve Bank Update April 2018

The Reserve Bank of Australia met today for April's meeting and voted to leave the cash rate at 1.5%.

The cash rate has been kept steady for 18 months and according to the RBA's Governor, Philip Lowe 'the global economy has strengthened over the past year' and that although 'the prices of a number of Australia's commodity exports have fallen recently, but remain within the ranges seen over the past year or so. Australia's terms of trade are expected to decline over the next few years, but remain at a relatively high level'.

According to today's press release 'employment has grown strongly over the past year' and 'inflation remains low with both CPI and underlying inflation running a little below 2 per cent'.