RBA unlikely to cut cash rate
Market watch top headlines
February 05 2013, 02:29AM
SYDNEY, Feb 5 AAP - The Reserve Bank of Australia (RBA) is widely expected to keep its finger off the interest rates trigger when it meets for its first board meeting of the calendar year on Tuesday.
An AAP survey of 15 economists shows that all but one expect the RBA to keep the cash rate steady.
The RBA last cut its cash rate in December by a quarter of a percentage point to three per cent - back to levels last seen during the global financial crisis four years ago.
CommSec economist Savanth Sebastian said an improved global outlook should influence the RBA's expected decision to hold off a rate cut on Tuesday.
"The numbers out of China have been very positive and even US numbers have been very supportive of the Reserve Bank leaving rates on hold," he said.
"It seems likely that they'll keep rates on hold for the first six months of this year."