RBA Keeps Rates Steady at 4.35%

June 03, 2024 07:50 PM PDT | By Team Kalkine Media

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The Reserve Bank of Australia (RBA) has decided to keep the cash rate target unchanged at 4.35% and the interest rate on Exchange Settlement balances at 4.25%. Despite the high inflation, it is falling more gradually than anticipated. The Consumer Price Index (CPI) grew by 3.6% over the year to the March quarter, down from 4.1% the previous year, with services inflation remaining particularly high.

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