Reserve Bank Of Australia Expected To Maintain Cash Rate At 4.35%

According to Odaily, the Reserve Bank of Australia (RBA) is anticipated to keep the official cash rate steady at 4.35% as it concludes its two-day policy meeting this week. The RBA may acknowledge that it is considering raising the official cash rate. Despite the global trend towards rate cuts, this potential move could spark debate. RBA Governor Philip Lowe is expected to wait for more favorable inflation data while downplaying the short-term impact of government rebates on the Consumer Price Index (CPI). It is important to note that the RBA has previously taken a different approach compared to other central banks by not implementing significant rate hikes. Instead, it has opted for a prolonged period of low-interest rates to safeguard employment. This strategy remains in place and is likely to continue for some time.