Reserve Bank of Australia holds policy rate again
Central bank says underlying inflation remains “too high”
Australia’s central bank today (November 5) held its policy rate at a 12-year high of 4.35%.
In a statement, the Reserve Bank of Australia (RBA) said underlying inflation was still some way from its 2–3% target, even though headline inflation had fallen substantially since its peak in 2022. The bank’s policy rate has been unchanged since November 2023.
Year-on-year headline inflation fell to 2.8% in Q3 from 3.8% in the previous quarter. The bank noted that this had mainly been caused by declining
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