The Reserve Bank has left interest rates on hold at its July meeting.
There have been a number of significant economic events (as well as non-events) recently and the RBA is taking a cautious approach. Meeting notes indiciate that they are waiting to see what effects (if any) the outcome of the ‘Brexit’ has on the global economy.
Whilst the RBA were likely hoping for some certainty in the Australian economy from the weekend elections this hasn’t been the case. With millions of votes still to be counted; a result is likely weeks away.
Full notes from the meeting can be found at the RBA Website.