3 sources·Business

Reserve Bank of Australia Holds Interest Rates Steady Amid Softening Inflation Concerns

The RBA maintains interest rates at 4.35% while expressing confidence in inflation trending towards target levels, signaling potential relief for borrowers in 2024.

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Updated: Dec 10th, 2024, 1:48 AM ET

Summary

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Australia's Reserve Bank kept interest rates at 4.35% for the ninth consecutive meeting, attributing the decision to easing inflation levels. While underlying inflation remains high, the bank signaled a cautious optimism about meeting its target by 2026. This shift has intensified discussions regarding potential rate cuts in early 2024. RBA Governor Michele Bullock emphasized the need for data-driven decisions in the future, while economic growth struggles continue to burden households. The RBA anticipates releasing further inflation data in January that could influence its policy direction.

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Reserve Bank of Australia Holds Interest Rates Steady Amid Softening Inflation Concerns - Pano News