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Reuters
Reuters
Business

Australia's central bank in 'no particular rush' to raise rates

FILE PHOTO: A worker rides past the Reserve Bank of Australia building in central Sydney November 2, 2010. Reserve Bank of Australia will announce its latest interest rate decision at 03:30 GMT on Tuesday. REUTERS/Daniel Munoz

SYDNEY (Reuters) - The next move in Australian interest rates is likely to be up, but with unemployment falling only gradually there is "no particular rush" to hike, a top central banker said on Tuesday.

Reserve Bank of Australia (RBA) Assistant Governor Christopher Kent said the central bank had been clear on the steady rate outlook for some time and there was no reason to alter it.

Rates have been held at a record low of 1.5 percent since August 2016 and markets are wagering they will remain there until sometime in 2019.

(Reporting by Wayne Cole; Editing by James Dalgleish)

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