Australian central bank 'near-term' interest rate cuts not on agenda
SYDNEY -- The Reserve Bank of Australia on Tuesday again held its official cash rate steady, with Governor Michele Bullock effectively ruling out a cut this year as inflation in the country remains "too high."
The RBA kept its cash rate at 4.35%, as it has done since November following 13 increases since May 2022. Inflation has fallen after hitting a peak of 7.8% in December of that year but has remained persistent.
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