Reported about 6 hours ago
Australia's central bank has kept its cash rate unchanged at 3.85%, surprising market expectations of a rate cut, as the majority of the board wanted to assess further data on inflation trends. While traders reacted by increasing the Australian dollar's value, the bank emphasized a cautious approach towards the inflation outlook, noting the need for additional information before making any changes. Despite previous rate cuts earlier this year, consumer spending remains sluggish, prompting discussions on future monetary policy directions.
Source: YAHOO