RBA board members say February cut does ‘not commit them to further reductions in the cash rate target at subsequent meetings’

The Reserve Bank is cautious about future cash rate cuts and doesn’t view last month’s decision to reduce the official interest rate level as a commitment to make further reductions, according to the minutes of the bank’s recent board meeting.

The 18 February meeting minutes, released on Tuesday, deflate the hopes of mortgage holders of another quick-fire reprieve in lending rates. They also appear to make another pre-election rate cut less likely.

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