The Reserve Bank of Australia (RBA) has decided to keep its cash rate steady at 3.60% as of September 30, amid concerns over rising inflation. Recent data indicates that inflation for the third quarter may surpass initial forecasts, prompting the RBA to maintain a cautious policy stance. Despite an earlier rate cut in August, the central bank is adopting a wait-and-see approach, particularly in light of high monthly CPI figures.
The RBA emphasized its readiness to respond to international economic developments, while the market anticipates no further rate cuts this week. The full third-quarter inflation report, expected at the end of October, will be crucial in shaping future monetary policy decisions.
RBA Holds Interest Rate at 3.60% Amid Inflation Concerns
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