The incredibly dull world of Australian monetary policy, in one chart

The Reserve Bank of Australia has now left interest rates steady in each of the past 19 months, equaling the record set between 1995 and 1996.

Here, look.

The chart comes courtesy of RBC Capital Markets.

Source: RBC Capital Markets

Given financial markets aren’t fully priced for a 25 basis point rate hike until mid next year, a view shared by an increasing number of economists, it looks like the RBA will not only beat that record in April but better it by some margin.

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