Australia’s Official Cash Rate Remains Unchanged at 4.35 Percent in March

Australia’s official cash rate will remain steady at 4.35 percent following a Reserve Bank board meeting on March 19. The result is in line with market expectations and marks the fourth consecutive month that the central bank has kept the cash rate on hold since the last time it was raised in November 2023. The Reserve Bank of Australia (RBA) said inflation had moderated and that this was the main reason for its decision. “The headline monthly CPI (consumer price index) indicator was steady at 3.4 percent over the year to January, with momentum easing over recent months, driven by moderating goods inflation,” it said in a statement....