The Reserve Bank of Australia has announced the outcome of its second board meeting of the year.Despite speculation that the central bank would be forced to take further action today, the cash rate will remain on hold at the historic-low of 2.25 per cent.Economists and commentators were fairly evenly split about whether the Reserve Bank board would cut the rate at today’s meeting or leave it on hold.In an industry survey, 16 of the 37 people surveyed expected a cut while the other 21 expected no change in rates.However many have predicted further rate cuts later this year.
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