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The Reserve Bank has continued its pause on interest rates, in its fifth decision of the year. Tuesday’s decision means the cash rate will remain at 4.35 per cent, as it has been since the most recent hike last November.
Economists largely anticipated the decision, with four in five economists and experts surveyed by Finder anticipating the cash rate would remain unchanged in August. In its decision, the RBA board said returning inflation to target within a reasonable timeframe remains its highest priority. “Inflation in underlying terms remains too high, and the latest projections show that it will be some time, yet before inflation is sustainably in the target range,” it said.
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