RBA HOLDS CASH RATE AT 4.35%
At its final meeting of 2024, the Reserve Bank of Australia kept the cash rate on hold at 4.35%. The decision was widely expected, with headline inflation trending lower. The numbers largely point towards a possible cash rate cut in the first half of 2025.
Chris Weston from Pepperstone confirmed that while markets only predicted a 7% chance of a rate cut today, there is now an 87% chance of a cut in February*. This highlights growing anticipation for monetary easing as the economy contends with slow growth and subdued consumer spending.
Read today’s official statement on the RBA’s website.