The Reserve Bank of Australia is seriously considering a rate rise with current inflation rate sitting at 1.9% while the unemployment rate sits at 5.5%.
The RBA will likely have concerns over potential trade wars between America and China, with pressure on Australian steel exports. Last month, the Federal Bank of America increased rates 25 basis points to 1.75% after strong economic data and rising inflation.
At its meeting today, the RBA decided to leave the cash rate unchanged at 1.50 per cent.
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