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RBA Cash Rate Remains Unchanged

For the third month in a row, the RBA has decided to leave the official cash rate steady at 4.10%.

As there is some uncertainty surrounding Australia's economic outlook, the decision to pause the cash rate will allow the RBA to further evaluate the effects of interest rate rises so far.

Although the inflation for goods prices has eased, the costs associated with many services are surging. Rent inflation is also notably high. The prevailing outlook anticipates that CPI (Consumer Price Index) inflation will continue its descent, eventually returning to the targeted range of 2-3% by late 2025.

The central bank has incrementally raised interest rates by 400 basis points since initiating rate hikes in May 2022, starting from a record-low rate of 0.1%

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