Australia’s central bank keeps rates unchanged at 4.35%

Australia’s central bank kept its benchmark interest rate at 4.35%, marking the eighth consecutive hold, in line with expectations.

While headline inflation fell to 2.8% in Q3 due to temporary declines in fuel and electricity costs, underlying inflation remains high at 3.5%.

The Reserve Bank of Australia (RBA) doesn’t expect inflation to reach its 2%-3% target midpoint until 2026, CNBC has reported.

read more: https://www.cnbc.com/2024/11/05/australias-central-bank-keeps-rates-unchanged-at-4point35percent.html

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