Australia's central bank keeps rates steady - Breaking The News

Australia's central bank keeps rates steady

6 August

1 min read

EPA-EFE/MICK TSIKAS

The Reserve Bank of Australia (RBA) revealed on Tuesday it decided against changing its monetary policy setting in August.

The central bank's targets for the cash rate and the interest rate on Exchange Settlement balances will remain at 4.35% and 4.25%, respectively. The decision aligned with expectations.

"Returning inflation to target within a reasonable timeframe remains the Board's highest priority. This is consistent with the RBA's mandate for price stability and full employment. To date, longer-term inflation expectations have been consistent with the inflation target and it is important that this remain the case," the bank stated.

monetary policy interest rates rba

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