Despite Inflation, RBA holds Interest Rates at 4.75%

Despite rising inflation as evidenced by recent Q1 PPI and CPI data, this morning saw analysts’ expectations realised as the RBA elected to retain rates of 4.75%. Rumours that the RBA could announce a rise of between 25 and 50 basis points had previously been circulating. Whilst the release earlier this morning eventually proved these to be false, there have since been warnings that inflation remains an ongoing concern.