RBA Holds Interest Rate Amid Ongoing Geopolitical Uncertainty

The Reserve Bank of Australia (RBA) kept its benchmark interest rate unchanged at 4.35% during its latest monetary policy meeting, aligning with consensus forecasts.

Board members signaled that inflationary pressures persist due to the ongoing US-Iran conflict in the Middle East, despite the Australian economy showing resilience.

Australia's unemployment rate rose to 4.40% in June, and annual inflation stood at 3.80%, still above the RBA’s 2-3% target range.