Interest rates may fall further still, RBA hints
Australian homeowners may have more money in their pockets if interest rates drop again.Australian money Getty
The Reserve Bank has signalled that it remains open to further cuts to the cash rate amid concerns about slowing growth in China and weak business investment in Australia.
In the minutes of the May board meeting, released today, the central bank indicated that the lack of "any guidance on the future path of monetary policy" accompanying its May decision would not prevent it from again moving in rates, if needed.
"Members did not see this as limiting the Board's scope for any action that might be appropriate at future meetings," the RBA said.
The RBA cut the cash rate by 0.25 percentage points on May 5, taking it to a historic low of two per cent.
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