RBA Keeps Interest Rate Steady Amid Ongoing Inflation Concerns

The Reserve Bank of Australia (RBA) has maintained its benchmark lending rate at 4.35% for a second consecutive meeting, leaving the door open to further interest rate hikes in the future.

This decision was widely anticipated by economists and money markets following relatively benign inflation figures released last month.

The RBA's governor Michele Bullock emphasized that despite falling house prices and lower-than-expected inflation, both headline and underlying inflation remain above the bank's target range of 2-3%.