Australia’s central bank cash rate seen near zero until end-2022

SYDNEY (Reuters) – Australia’s central bank will likely keep key rates at a record low of 0.1% at its monthly policy meeting next week, a majority of economists polled by Reuters showed, with rates seen at that level through the end of 2022.

All but one of 24 economists surveyed by Reuters expect no change to policy at the Reserve Bank of Australia’s (RBA) April 6 board meeting. One economist predicted a 5 basis point cut to 0.05%.

The economists expect no change to the cash rate until end-2022.

The RBA slashed rates last year to an all-time low of 0.1% and launched a massive quantitative easing programme to help pull borrowing costs lower. It has pledged to not raise rates until inflation is back within its 2-3% medium-term target band.