RBA Maintains High Interest Rates Amid Inflation Concerns

Australia's central bank holds rates steady at 4.35%, signaling a cautious approach as inflation persists above target.

The Reserve Bank of Australia keeps cash rate unchanged, citing recent inflation data that exceeds expectations.
Forecasts suggest no significant rate cuts anticipated until at least mid-2025, with inflation expected to remain high.
Australian dollar and bond yields fall following the RBA's announcement, reflecting market reactions to the steady rate policy.
Economic indicators show a slowdown in consumer spending and retail sales, adding pressure on the economy.
Upcoming federal budget to address inflation challenges, with limited fiscal interventions expected from the government.