RBA: Will not increase OCR until actual inflation is sustainably within 2%-3% target range

Following are the key headlines from the March RBA monetary policy statement, via Reuters, as presented by Governor Phillip Lowe.

Board is committed to maintaining highly supportive monetary conditions

Will not increase the cash rate until actual inflation is sustainably within the 2% to 3% target range

Prices of many commodities have increased further due to the war in ukraine

The Australian economy remains resilient and spending is picking up following the omicron setback

Wages growth has picked up but, at the aggregate level, is only around the relatively low rates prevailing before the pandemic

more to come ...