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  • Statement by the Reserve Bank Board: Monetary Policy Decision

    From rba.gov.au

    At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent. Inflation remains high and is falling more gradually than expected. Recent information indicates that inflation continues to moderate, but is declining more slowly than expected. The CPI grew by 3.6 per cent over the year to the March quarter, down from 4.1 per cent over the year to December. Underlying inflation was higher than headline inflation and declined by less. This was due in large part to services inflation, which remains high ... (full story)

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  • Statement on Monetary Policy – May 2024

    From rba.gov.au

    Inflation is still high and is falling more slowly than expected. Bringing inflation down to the 2–3 per cent target range is the Reserve Bank Board’s highest priority. The Board’s decision to hold the cash rate supports inflation returning to target. What is going on in the economy? Inflation remains high and is falling more gradually than previously thought. Global growth is subdued and inflation is above target in many countries. In Australia, economic growth also remains slow. Inflation has been higher than expected and labour market conditions have proven stronger than anticipated. Overall, higher interest ... (full story)

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