RBA holds rates at Lowe’s final meeting
Outgoing governor has not ruled out need for further tightening
The Reserve Bank of Australia has kept its benchmark interest rate unchanged for the third straight month, in a widely expected announcement made during outgoing governor Philip Lowe’s last policy meeting.
The RBA’s board left the cash rate at 4.1% today (September 5). It has raised interest rates by a cumulative 400 basis points since May 2022.
The higher interest rates are working to establish a more sustainable balance between supply and demand, but there is uncertainty around the economic
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