🇦🇺 RBA Holds at 4.35%: Further Hikes Still on the Table
The RBA left the cash rate unchanged at 4.35% at its June meeting, following three increases since the beginning of the year.
The Board said financial conditions are now tighter and there are signs the economy is slowing as expected, with consumer spending easing, housing momentum shifting, and unemployment higher than expected in April.
But inflation remains the central concern. In its June statement, the RBA said headline and underlying inflation are “still too high”, while higher fuel prices are passing through to other goods and services.
The Board also said it will do what is necessary to achieve its mandate, including “increasing the cash rate target further if required.”
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