PHOTO: RBA governor Philip Lowe. Photo: Alex Ellinghausen
The Reserve Bank has left the cash rate on hold at 1.5 per cent less than a week after the first of the big four banks disregarded the official interest rate and increased costs for borrowers.
Commonwealth Bank, ANZ and National Australia Bank chiefs are now weighing up whether to follow Westpac’s lead after the central bank again signalled that official rates were going nowhere soon. It has now been 25 months since the RBA moved the cash rate. The market does not expect a change until January 2020.
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