RBA Maintains Rates at 4.35%
Published on: Sep 24, 2024|1 min read
London: 24 September 2024 (TraderMade): The Reserve Bank of Australia (RBA) defied some market expectations and kept interest rates at 4.35% today. This decision may impact the Australian Dollar (AUD) and the broader economy.
RBA Stands Pat: No Rate Cut Despite Global Shift
During today's board meeting, the Reserve Bank of Australia (RBA) announced its decision to maintain the cash rate at 4.35%. This move surprises some analysts who anticipated a rate cut following the recent move by the Federal Reserve.
Focus on Inflation Control
The RBA prioritizes tackling inflation, which remains above its target range. The decision to hold rates reflects their commitment to price stability while still supporting economic growth. The Bank will continue to monitor economic data and adjust its policy stance as needed.
