The Reserve Bank of Australia announces to keep the interest rate unchanged

2024-08-06 12:33:38

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ChainCatcher news, according to Jinshi reports, the Reserve Bank of Australia announced that it will keep the interest rate unchanged at 4.35%, in line with market expectations.

The Reserve Bank of Australia stated that demand exceeds the economy's supply capacity, exceeding expectations. It is determined to restore the Consumer Price Index (CPI) to target levels and must remain vigilant against the risks of rising inflation. Inflation remains above the 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 down more gradually than previously anticipated, projected to fall below 3% by the end of 2025. At the same time, forecasts for GDP growth, unemployment rate, and core inflation have been revised upward.

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Reserve Bank of Australia interest rate

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