The Reserve Bank of Australia has kept the cash rate on hold for November due to higher than expected inflation and signs of an improving global economy.
The RBA’s decision at its monthly meeting to keep the rate at 3.25 per cent has been met with disappointment by industry, unions and retailers who claim trading conditions remain difficult.
The Retailers’ Association says there’s still time for an interest rate cut before Christmas.
Senior banking economists say the decision reflects a more positive outlook for the economy.
