Rates haven’t moved since August 2016.
Rates haven’t moved since August 2016.

Rates on hold for 31 months

The Reserve Bank has kept the official cash rate at a record low of 1.5 per cent as expected.

The decision at Tuesday's March board meeting means the cash rate has not moved in 31 months.

The rate, which reflects what the central bank charges commercial banks on overnight loans and influences all other interest rates, was last cut in August 2016 and hasn't been hiked since November 2010.