RBA keeps cash rate at 4.35% for March Meeting

The cash rate will remain at 4.35% following the Reserve Bank of Australia’s (RBA) March monetary policy meeting.

The decision was largely expected, as the latest Australian Bureau of Statistics data showed annual trimmed mean inflation fell to 3.8% in January, down from 4.0% in December.

While higher interest rates appear to be having the desired effect on the economy, RBA governor Michele Bullock reiterated the RBA’s commitment to return the cash rate to within its target range of 2-3%.

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