Reserve Bank holds cash rate at 4.1 per cent

The official cash rate will stay on hold at 4.1 per cent, the Reserve Bank board decided at its April meeting.

Transcript

00:00We've already seen rates start to come down this year. That's a very good thing.

00:03It's a reflection of the progress we've made together in our economy.

00:07And I don't make predictions about the future, but I do remind people that there was almost

00:13no expectation whatsoever from the markets and from the economists today of a rate cut,

00:20but there is an overwhelming expectation of a rate cut in May and in subsequent months.

00:26That's the expectation of the market. I don't get into those sorts of predictions.

00:30That's the expectation of the market.