Reserve Bank of Australia revises inflation forecast
Reserve Bank of Australia governor Michele Bullock says “temporary factors” partially drove up recent quarterly inflation figures, but there may be more pressure than the central bank initially believed.
The Reserve Bank of Australia (RBA) left the cash rate target on hold today at 3.6 per cent for the second time in a row.
Alongside the announcement, the RBA updated its inflation forecast as it now expects underlying inflation to remain at 3.2 per cent until at least the middle of 2026, before easing back by the end of the year.
