- Switzer Report - https://switzerreport.com.au -

RBA tipped to hold rates

The Reserve Bank of Australia (RBA) is expected to hold interest rates at their current level when it meets on Tuesday.

An AAP survey of 13 economists last week revealed all expected the RBA to hold the cash rate at 4.25 per cent for March.

The RBA kept the official interest rate on hold at its February 7 meeting, after two 25 basis points cuts in November and December.

However, the four major banks: Westpac, Commonwealth, National Australia Bank and ANZ opted to raise their standard variable rates by between 0.06 and 0.10 per cent, citing higher funding costs.

The RBA was widely expected to cut the cash rate in February but opted to hold, citing an improved global outlook and a domestic economy growing at around trend.