RBA holds interest rate at 4.35%

Important Headlines

  • THE LATEST DATA DO NOT CHANGE THE BOARD’S ASSESSMENT AT THE AUGUST MEETING THAT POLICY IS CURRENTLY RESTRICTIVE AND WORKING BROADLY AS ANTICIPATED
  • OUR CURRENT FORECASTS DO NOT SEE INFLATION RETURNING SUSTAINABLY TO TARGET UNTIL 2026
  • INFLATION REMAINS ABOVE TARGET AND IS PROVING PERSISTENT

On Tuesday 24th September 2024, the RBA (Royal bank of Australia) held interest rates at 4.35%.

This is the seventh meeting in a row which the RBA has held interest rates.

Going into this meeting it was expected to keep interest rates at this level. Inflation has come down since the last RBA interest rate hike back in November 2023 which was 25bps.

The board wants to see inflation back into the 2-3% target range before considering a reduction.