RBA Keeps Rates Unchanged Amid Ongoing Inflationary Pressures

The Reserve Bank of Australia (RBA) kept interest rates unchanged at 4.35% during its monetary policy meeting, aligning with analyst expectations.

The decision was unanimous among RBA members, who signaled that inflationary pressures persist, partly driven by the ongoing US-Iran conflict in the Middle East.

Australia's unemployment rate increased to 4.40% in June, but has remained relatively stable over the last twelve months.

The AUD/USD pair appreciated marginally by 0.08% against the US dollar to $0.7059 following the monetary policy announcement.