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MNI BRIEF: RBA Holds Cash Rate At 4.35%

The RBA Board has held the cash rate steady.
Policy NewsCentral Bank NewsHomepageAPACAustraliaBriefGlobalStoryRBARegion

MNI (SYDNEY) - The Reserve Bank of Australia Board kept the cash rate steady at 4.35% Tuesday, repeating it would not rule anything “in or out” due to continued high underlying inflation.

“While headline inflation has declined substantially and will remain lower for a time, underlying inflation is more indicative of inflation momentum, and it remains too high,” the Board said in a statement. “The November SMP forecasts suggest that it will be some time yet before inflation is sustainably in the target range and approaching the [2.5%] midpoint.”

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MNI (SYDNEY) - The Reserve Bank of Australia Board kept the cash rate steady at 4.35% Tuesday, repeating it would not rule anything “in or out” due to continued high underlying inflation.

“While headline inflation has declined substantially and will remain lower for a time, underlying inflation is more indicative of inflation momentum, and it remains too high,” the Board said in a statement. “The November SMP forecasts suggest that it will be some time yet before inflation is sustainably in the target range and approaching the [2.5%] midpoint.”

Keep reading...Show less