RBA Interest Rate Announcement 19th March 2024

At its meeting today, the Board decided to leave the cash rate target unchanged at 4.35 per cent and the interest rate paid on Exchange Settlement balances unchanged at 4.25 per cent.

  • Wages growth picked up a little further in the December quarter, but appears to have peaked with indications it will moderate over the year ahead. 
  • While there are encouraging signs that inflation is moderating, the economic outlook remains uncertain. The December quarter national accounts data confirmed growth has slowed.
  • While there have been favourable signs on goods price inflation abroad, services price inflation has remained persistent.

To view the full statement of Michele Bullock, Governor of the Reserve Bank, please click here.

Published : 20 Mar 2024

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