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RBA expects 0.25 per cent cash rate for three years: Governor – NEWS.com.au

RBA expects historically low cash rate will remain for three years amid high unemployment

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The Reserve Bank of Australia has flagged keeping the official interest rate at a historical low for the next three years, expecting it will take at least that long for the jobs market to recover from the coronavirus pandemic.The central bank cut the cash rate at its regular meeting on March 3 as the crisis started to grip the nation. It then held an extraordinary meeting just two weeks later when the board decided on a package that included a further reduction to 0.25 per cent and the introduct…

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