Reported 2 months ago
Australia's central bank, the Reserve Bank of Australia (RBA), has held its cash rate steady at 4.35% for the sixth consecutive meeting, maintaining a 12-year high amidst inflation worries. RBA Governor Michele Bullock indicated that the bank is unlikely to consider a rate cut in the near term, citing persistent inflation risks and upgraded forecasts for both inflation and economic growth. Despite global counterparts moving towards easing rates, the RBA aims to control consumer prices while preserving employment gains, stating that core inflation remains above the target.
Source: YAHOO