Sigh of relief from borrowers as RBA makes its marginal call
The Reserve Bank of Australia (RBA) has kept the cash rate on hold at 4.35 per cent despite persistent inflation testing its resolve.
Economic uncertainty has eclipsed the RBA's concerns about inflation in its latest rates decision-making process. (Image source: Shutterstock.com)
Stubbornly high inflation has not been quite threatening enough to force the RBA’s hand.
The official cash rate was kept on hold at 4.35 per cent at the Reserve Bank’s Tuesday (6 August) meeting but Reserve Bank Governor Michele Bullock has all but ruled out a rate cut this year.
The RBA Board noted that the economic outlook is uncertain and recent data demonstrated that the process of returning inflation to target has been “slow and bumpy”.
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