Australia leaves policy rate unchanged, as expected
Governor says policy a little restrictive, while RBA notes slightly higher-than-forecast inflation data
Australia’s central bank left its benchmark policy rate unchanged today (September 30) and said inflation had slowed, though the effects of its previous cuts were yet to be fully felt.
The Reserve Bank of Australia’s board decided to leave the rate at 3.6% in a unanimous decision. The RBA said in a release that inflation had been in the 2–3% range in the second quarter. It added that recent data suggested inflation in the third quarter could turn out to be higher than the bank had been predicting
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