RBA to Review Interest Rate Effectiveness in Controlling Inflation

The Reserve Bank of Australia will assess whether its current interest rate is sufficient to control inflation at its September meeting, Governor Michele Bullock said. The central bank's Monetary Policy Board will review incoming data and evaluate how risks are developing.

Bullock stated that the key question for policymakers is whether the monetary policy tightening implemented so far will be enough to return inflation to target within a reasonable timeframe.

The RBA kept its benchmark interest rate steady at 4.35% in August, marking its second consecutive meeting without an increase.