Australia holds, flags possible rate hikes next year
RBA keeps policy steady amid heightened inflation while governor says no cuts for foreseeable future
The Reserve Bank of Australia has held its benchmark interest rate at 3.6% as expected and ruled out rate cuts for the “foreseeable future”.
The central bank said in a statement today (December 9) that inflation risks had tilted to the upside and that its monetary policy board would need more time to determine if this would persist. The RBA said domestic demand was recovering and labour market conditions appeared to be improving.
“The [RBA] board therefore judged that it was appropriate to remain
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