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MNI BRIEF: RBA Holds At 4.10%, Inflation Passed Peak

(MNI) Melbourne

The Reserve Bank of Australia board left its official cash rate at 4.1% today, its third consecutive pause, noting Australia’s inflation has passed its peak.

The move was largely anticipated by the market and economists (See MNI RBA WATCH: Board Set For Pause As CPI Slows) and follows last week’s lower than expected monthly CPI print, which saw headline inflation fall to 4.9% (See MNI BRIEF: Aussie Monthly CPI Falls To 4.9%).

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The Reserve Bank of Australia board left its official cash rate at 4.1% today, its third consecutive pause, noting Australia’s inflation has passed its peak.

The move was largely anticipated by the market and economists (See MNI RBA WATCH: Board Set For Pause As CPI Slows) and follows last week’s lower than expected monthly CPI print, which saw headline inflation fall to 4.9% (See MNI BRIEF: Aussie Monthly CPI Falls To 4.9%).

Keep reading...Show less