RBA maintains cash rate
The Reserve Bank of Australia (RBA) has decided to maintain the cash rate at 3.60% during its November monetary policy meeting. This decision aligns with the expectations of many economists and analysts who predicted that the RBA would keep the rate steady. The RBA's target inflation range aims to keep consumer price inflation between 2% and 3%. Recent data for the September quarter indicates that the consumer price index stands at 3.2%, while the September monthly indicator shows a rate of 3.5%.
The Board is committed to staying vigilant and proactive in its approach. Its focus is on implementing a comprehensive strategy that involves analysing relevant data and evaluating future trends to inform its decision-making process. The Board remains dedicated to delivering stability in the economy and employment.
The Reserve Bank of Australia’s next schedule meeting
Looking ahead, the next meeting is December 8th and 9th, where further monetary policy decisions will be discussed.