RBA HOLDS CASH RATE AT 4.35%
For another meeting, the Reserve Bank of Australia (RBA) held the cash rate steady at 4.35%. The last time the RBA changed the cash rate was an increase in November 2023.
The move was widely expected as the RBA has made it clear it is working to get inflation back to within the target range of 2-3%. While inflation has fallen since its peak, the most recent quarterly results for June 2024 showed it is still some way off at 3.8%.