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.

• Inflation continued to ease in the December quarter. Despite this progress, inflation remains high at 4.1 per cent.
• While there are encouraging signs, the economic outlook is uncertain and the Board remains highly attentive to inflation risks.
• While there have been favourable signs on goods price inflation abroad, services price inflation has remained persistent and the same could occur in Australia.

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

Published : 06 Feb 2024