RBA keeps interest rate unchanged at 4.35%

The Reserve Bank of Australia kept interest rates unchanged at 4.35%, in line with market expectations. The Reserve Bank of Australia said that demand exceeded economic supply capacity, exceeding expectations. Determined to restore the consumer price index (CPI) to the target level, it is necessary to remain vigilant to the upward risks of inflation. Inflation remains above target, showing persistence. Core inflation levels are still too high, and necessary measures will be taken to achieve the inflation target. In addition, core inflation is expected to slow more slowly than previously expected, and is expected to fall below 3% by the end of 2025. At the same time, the forecasts for GDP growth, unemployment rate and core inflation were raised. (Jinshi)