The Reserve Bank of Australia has defied market expectations by leaving its cash rate target unchanged at 3.85 percent.

Market expectations were for the central bank to cut its rate by 25 basis points.

HSBC chief economist Paul Bloxham this came as a surprise to experts - but the central bank opted to wait ahead of the CPI release.

LISTEN ABOVE

The Reserve Bank of Australia has defied market expectations by leaving its cash rate target unchanged at 3.85 percent.
Market expectations were for the central bank to cut its rate by 25 basis points.
HSBC chief economist Paul Bloxham this came as a surprise to experts - but the central bank opted to wait ahead of the CPI release.
LISTEN ABOVE

With a straight down the middle approach, Heather du Plessis-Allan Drive on Newstalk ZB delivers the very latest news and views to New Zealanders as they wrap up their day.

Heather du Plessis-Allan Drive

Paul Bloxham: HSBC chief economist on the Reserve Bank of Australia holding rates at 3.85 percent

https://api.omny.fm/orgs/7784f840-c291-422a-924b-ad9000bbad71/clips/c0152b20-9cd5-4319-b628-b3140082544a/transcript