RBA left its cash rate target unchanged at 4.35%, as widely anticipated. It maintained its stance of “not ruling anything in or out,” indicating a cautious approach and open stance amid ongoing economic uncertainties.
While inflation is easing, RBA noted that it is doing so “more slowly than previously expected,” and inflation “remains high.” The central bank acknowledged that it will be “some time yet” before inflation is sustainably within the target range.
RBA added that recent economic data have been “mixed,” reinforcing the need to remain “vigilant to upside risks to inflation.” Consequently, the path of interest rates “remains uncertain”.
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