Australia politics live: parliament returns as Labor seeks deals on NDIS, gambling ads and news bargaining reforms
The Reserve Bank of Australia is expected to hold interest rates steady at 4.35% today amid persistent inflation concerns. Market analysts are closely watching the bank's official statement and Governor Michele Bullock's press conference for clues regarding future rate adjustments.
Why it matters
Interest rate decisions directly impact the cost of living, mortgage repayments, and economic growth for all Australians.
The Reserve Bank’s latest interest rate decision is due at 2.30pm today, and the unanimous prediction is that they will hold the cash rate at 4.35% for a second meeting in a row.
Inflation is still running too hot at 3.8% in the year to June – miles above the RBA’s official 2.5% target.
But recent data shows inflation is not as high as had been expected, while unemployment is a touch higher – two signals for the RBA to sit on its hands for now.
While financial markets see virtually no chance of a hike today, they still see a nearly 50% chance of a move higher this year.
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