As expected, the Reserve Bank had little Christmas joy to share with the borrowers of Australia this week, opting once again to leave the official cash rate at 4.35% as it has been all year.
In a statement announcing the decision, RBA governor Michele Bullock said the Board is ‘gaining some confidence’ that inflationary pressures are declining, but ‘risks remain’. The Board will next meet in February, with economists now suggesting a drop is possible in the early months of 2025.
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