RBA holds interest rates at 4.35% for nearly a year, balancing inflation control.
Core inflation remains stubborn at 3.9%, RBA aims for a target by 2026.
Economists predict cautious RBA approach, potential rate cuts depend on inflation.
The Reserve Bank of Australia (RBA) has held its interest rates steady for almost a year now, showing confidence in the country’s fight against inflation. Even with concerns about high inflation, the central bank remains focused on stabilizing prices without causing major economic disruptions.
The decision to keep the rate at 4.35% shows the RBA’s way to curbing inflation alongside supporting the economy.
Since its peak in 2022, Australia’s inflation rate has dropped considerably thanks to improved supply chains and lower energy costs. Federal Treasurer Jim Chalmers highlighted the government’s successes in tackling inflation, noting that quarterly inflation now starts with a “three” instead of last year’s much higher figures.
The decision by the Reserve Bank to keep interest rates on hold was expected.
There hasn’t been a rate hike for almost a year. This reflects the good progress we’ve made on inflatio…
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