The Reserve Bank of Australia (RBA) Holds Interest Rate at 3.60%, Focusing on Economic Stability
The Reserve Bank of Australia (RBA) decided to maintain its benchmark interest rate at 3.60% at its September policy meeting, in line with market expectations. The RBA assessed that Australia's financial conditions have improved since the beginning of the year, and that previous rate cuts still need time to show their full impact on the economy.
In its statement, the RBA noted signs of recovering domestic demand, persistent inflation in some sectors, and a relatively stable labor market. Therefore, the central bank believes a cautious stance is appropriate at this time while continuing to update its view on the economic outlook based on the latest data.
Going forward, the RBA will monitor various factors, including global economic developments, financial market conditions, domestic demand, and the direction of inflation and employment. The RBA emphasized that it remains focused on its primary mandate of maintaining price stability and supporting full employment, and is ready to take decisive action if international or domestic conditions require additional monetary policy responses.
Source: Newsmaker.id
