Interest Rates Tipped to Remain On Hold

The Reserve Bank of Australia will meet this week to discuss where interest rates for June.

Economists expect interest rates to remain on hold as signs of the global economy begin to steady, however, their is a bias for rates to be reduced later in the year.

Further rate reductions will depend on the outlook of global and local economic conditions. If it begins to worsen again then the Reserve Bank may reduce rates again. For now it is a wait and see approach.

The Reserve Bank will provide its outlook for Australia this week and this may indicate a hint where they see interest rates for the remainder of the year.