Reserve Bank Holds Official Cash Rate at 4.35 Percent

Published on February 6, 2024

Australian borrowers will have another month of reprieve as the Reserve Bank of Australia (RBA) kept the official cash rate on hold at 4.35 percent. After the first 2024 board meeting concluded on Feb. 6, the RBA announced that the cash rate would remain unchanged for the second month. The announcement was consistent with the forecasts of many economists and financial experts. The central bank cited the recent drop in the official inflation rate as the main reason for its decision. According to the Australian Bureau of Statistics, the annual consumer price index (CPI) grew by 4.1 percent in the December 2023 quarter, down from 5.4 percent in the September quarter....

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