RBA Holds Cash Rate at 1.5% Yet Again

Pedestrians are reflected in the wall of the Reserve Bank of Australia in Sydney on April 2, 2019. Australia's central bank kept interest rates on hold and maintained a neutral bias even as it was less upbeat about the economy amid slowing growth. SAEED KHAN/AFP/Getty Images

The Reserve Bank struck a cautious note in keeping the official cash rate at a record low of 1.5 percent, leading economists to believe the chances of a rate cut are increasing.

The decision at April 2nd’s board meeting means the cash rate has not moved in 32 months, but a change in language on the falling house prices was among a number of subtle shifts toward a dovish tone.