Australia’s Reserve Bank has decided to keep the cash rate at 4.35%.
In underlying terms, inflation sat at 3.9 per cent in the June quarter, consistent with earlier forecasts.
Headline inflation saw a dip in July, thanks to cost-of-living relief measures.
Current forecasts predict inflation won’t sustainably hit the target range until 2026, after an 11-quarter streak above the midpoint.
Weak GDP growth and ongoing financial strain are dampening consumer spending, with wage pressures easing slightly. #featured #trending
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