Reserve Bank of Australia holds policy rate
Policy-makers say cut is unlikely in near term while government’s plan to overhaul central bank sours
The Reserve Bank of Australia (RBA) has kept its policy rate at a 12-year high of 4.35%.
“While headline inflation will decline for a time, underlying inflation is more indicative of inflation momentum, and it remains too high,” the board said in a statement.
At her post-meeting press conference, governor Michele Bullock said a clear message from the board was that it does not expect interest rate cuts in the near term.
However, she also noted that although the board did not “explicitly” consider a
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