(domain.com.au)Interest rates remain on hold today, despite a wave of recent economic data signalling inflation concerns are back on the Reserve Bank’s radar.
The benchmark rate remains at 6.25 per cent but analysts and the market are backing an upward movement in interest rates when the RBA board meets next month. Retail and building approval figures from this week indicate the three interest rate rises have done little to dampen consumer sentiment.
Retail sales grew by a seasonally adjusted 0.9 per cent in February, surpassing the 0.4 per cent economists had expected.
Building approvals also surged 10.6 per cent – economists had expected growth of just one per cent.