Rate tipped to stay as is

FINANCIAL markets are overwhelmingly expecting the Reserve Bank of Australia board to keep the official interest rate on hold when it meets in Brisbane today.

The RBA has kept its cash rate at a record low of 1.5 per cent for more than 12 months.

CommSec chief economist Craig James said he expected interest rates to stay the same well into next year.

“Nothing that has come out in the last period has changed our view, or is likely to have changed their (the RBA’s) view,” he said.