July 20, 2024

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Australia Holds Key Rate, Will Be ‘Vigilant’ on Inflation

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Australia’s central bank kept interest rates at a 12-year high and highlighted that inflation is proving sticky, suggesting it will be some time before policymakers are ready to signal easing.

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(Bloomberg) — Australia’s central bank kept interest rates at a 12-year high and highlighted that inflation is proving sticky, suggesting it will be some time before policymakers are ready to signal easing.

The Reserve Bank held its cash rate at 4.35% for a fifth straight meeting on Tuesday and restated that it wasn’t “ruling anything in or out,” a signal that a hike isn’t out of the question. The RBA’s goal is to slow consumer prices while holding onto significant job gains since the pandemic.

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Bloomberg News

2024-06-18 01:27:06

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