Overview

• The Reserve Bank of Australia has held the cash rate at 4.1%, following its March 31-April 1 meeting, as widely expected by financial markets.
• This decision comes during a federal election campaign, with the RBA maintaining a cautious approach to avoid political influence ahead of the May 3 polling day.
• Inflation in Australia has slowed to 2.4%, now within the RBA's target range of 2-3%, reducing immediate pressure for further rate hikes.
• The central bank's newly established monetary policy board held its first meeting, with members individually voting on the rate decision for the first time in its history.
• Economists predict a potential rate cut at the RBA's May meeting, contingent on continued favorable economic conditions and inflation trends.