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Reserve Bank of Australia maintains cash rate at 2%

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Reserve Bank of Australia maintains cash rate at 2%

The Reserve Bankof Australia said April 5 that it decided to leave the cash rate at 2%.

The central bank said inflation in Australia is likely to remainlow over the next year or two. In light of this, the RBA said continued low inflationwould offer scope for easier policy, should that be appropriate to lend supportto demand.

The central bank also noted that low interest rates are supportingdemand and supervisory measures are helping to contain risks in the housing market.Credit growth to households continues at a moderate pace.