The official cash rate will stay on hold at 4.1 per cent, the Reserve Bank board decided at its April meeting.
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00:00We've already seen rates start to come down this year. That's a very good thing.
00:03It's a reflection of the progress we've made together in our economy.
00:07And I don't make predictions about the future, but I do remind people that there was almost
00:13no expectation whatsoever from the markets and from the economists today of a rate cut,
00:20but there is an overwhelming expectation of a rate cut in May and in subsequent months.
00:26That's the expectation of the market. I don't get into those sorts of predictions.
00:30That's the expectation of the market.