Reserve Bank’s MPC united in the need to keep interest rates steady

The Reserve Bank left the repo rate unchanged on Thursday at its lowest level since it was introduced, with two members of the monetary policy committee (MPC) who had previously argued for a cut joining the majority as growth and inflation forecasts were upgraded.

But economists said the shift did not signal that rates would be increased soon, despite the Bank’s model suggesting two hikes during 2021, as it balances inflation risks with the need to support the economy...