Australia to revisit policy at May meeting

Fresh forecasts: Bullock stresses a point at a news conference in Sydney. The central bank governor calls for patience as Australian policymakers try to come to grips with how the new US tariff regime might affect global demand and supply. — Bloomberg

SYDNEY: Australia’s central bank expresses caution over future interest rate cuts, saying May would be an “opportune time” to revisit policy settings, according to minutes of its April meeting that was held just before US President Donald Trump’ unleashed a wave of tariffs that have roiled global markets.

The Reserve Bank of Australia’s (RBA) board reiterated that it was not yet possible to determine the timing of the next move in rates, according to minutes of the March 31-April 1 meeting released in Sydney yesterday.