#Breaking: #Australia’s central #bank kept interest rates at a 12-year high as it awaits a shift lower in stubbornly sticky #inflation.

Australia’s central bank kept interest rates at a 12-year high as it awaits a shift lower in stubbornly sticky inflation

The Reserve Bank held its cash rate at 4.35% for a fifth straight meeting on Tuesday and restated that it wasn’t “ruling anything in or out,”

a signal that a hike isn’t out of the question. The RBA’s goal is to slow consumer prices while holding onto significant job gains since the pandemic.

“While recent data have been mixed, they have reinforced the need to remain vigilant to upside risks to inflation,” the rate-setting board said in a statement.

“The board will rely upon the data and the evolving assessment of risks.”

Read more:  https://www.bloomberg.com/news/articles/2024-06-18/australia-holds-key-rate-at-12-year-high-on-inflation-worries?