The chances of a rate cut in March continue to fall, below 28% now.
The inflation outlook, as assessed at this meeting, would afford scope to ease policy further, should that be necessary to support demand. Noting that monetary policy was already accommodative as a result of the substantial easing of policy over the past 15 months, and that this stimulus was continuing to work its way through the economy, the Board judged that it was prudent to leave the cash rate unchanged at this meeting.
Link to the Minutes of the Monetary Policy Meeting of the Reserve Bank Board
Sydney – 5 February 2013
