RBA Keeps Rates Unchanged as Inflation Remains Stubborn

The Reserve Bank of Australia (RBA) has kept the official cash rate unchanged at 4.35%, giving mortgage holders a reprieve after three rate increases this year.

The decision was unanimous and widely anticipated by economists and financial markets, with the RBA balancing signs of slowing economic and housing activity against inflation that remains above its 2%-3% target range.

The central bank said inflation was still 'too high' and was not expected to return to around the midpoint of its target band until late 2027.