RBA interest rates: Reserve Bank holds official cash rate at 4.35% as economy slows and unemployment rises
The Reserve Bank of Australia has maintained the official cash rate at 4.35% following a period of slowing economic activity and rising unemployment. This decision provides little relief to mortgage holders who have faced multiple rate hikes throughout the year.
Why it matters
The decision reflects the difficult balancing act central banks face in curbing inflation while avoiding a significant economic downturn or recession.
The Reserve Bank has left its official interest rate on hold at 4.35%, with the RBA decision expected after economic activity slowed and unemployment hit a four-year high. The cash rate was set at the RBA meeting on Tuesday. Photograph: AAP View image in fullscreen The Reserve Bank has left its official interest rate on hold at 4.35%, with the RBA decision expected after economic activity slowed and unemployment hit a four-year high. The cash rate was set at the RBA meeting on Tuesday. Photograph: AAP Reserve Bank of Australia RBA interest rates: Reserve Bank holds official cash rate at 4.35% as economy slows and unemployment rises Reserve Bank of Australia decision on Tuesday comes after three consecutive cash rate hikes this year
The article provides factual economic data and explains the impact on consumers without injecting political bias.
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