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, it's

00:03a reflection of the progress we've made together in our economy and I don't make predictions

00:08about the future.

00:09But I do remind people that there was almost no expectation whatsoever from the markets

00:17and from the economists today of a rate cut, but there is an overwhelming expectation of

00:22a 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.