Punters backing no rate change in April

AAP

PUNTERS expect that the Reserve Bank of Australia (RBA) will leave the official cash rate unchanged when its board meets in April, bookmaker Centrebet says.

The odds of the cash rate staying at 4.0 per cent, after rising from 3.75 per cent at last week's meeting, is favourite at $1.55.

But Centrebet media chief and analyst Neil Evans said another 25 basis point increase on April 6 was "very much in play" at odds of $2.20.

"After the Reserve bumped the official rate by one-quarter per cent last week, the early indicator is the central bank will cool its heels," Mr Evans said in a statement.

However, he said with continuing strength in employment, retail and real estate sales, there is certainly room for back-to-back increases.

"It will be intriguing to see which way punters go early, particularly after RBA Governor Glenn Stevens flagged several rises in 2010 to meet a sustainable cash target," Mr Evans said.