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Australia central bank seen keeping rates steady at September meeting

Australia central bank seen keeping rates steady at September meeting

SYDNEY:  Australia’s central bank is seen as all but certain to keep its cash rate at a record low of 1.5 percent at its monthly policy meeting next week, a Reuters poll of economists found. Out of 42 economists polled by Reuters, 41 forecast the Reserve Bank of Australia (RBA) would stand pat at its policy meeting on September 5.

The RBA eased twice last year but has since held steady as it balances the risk of fuelling further borrowing in the country’s red-hot property market against tepid inflation. While the majority predicted the central bank would keep rates steady until the middle of next year, 16 of 28 respondents forecast that it would tighten by December next year, against one who expects an easing.