RBA holds policy rate as inflation eases
Lowe says inflation is falling but remains too high
Australia’s central bank held its benchmark interest rate unchanged for the second meeting in a row, but said further tightening may be needed.
The Reserve Bank of Australia’s nine-member board decided to keep the cash rate at 4.1%, the highest level since April 2012. The RBA has raised the policy rate by 400 basis points since May 2022.
Governor Philip Lowe said the board’s decision will provide further time for the board to assess the impact of past rate increases and the economic outlook.
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