Reserve Bank Australia holds the cash rate at 4.35%.

At its monetary policy meeting, the Reserve Bank of Australia (RBA) Board decided to leave the cash rate target unchanged at 4.35 % and the interest rate paid on Exchange Settlement balances unchanged at 4.25 % . The three key takeaways from the September 24th meeting remain unchanged.

1. Inflation remains above target and is proving persistent.

2. The outlook remains highly uncertain.

3. Returning inflation to target is the RBA’s priority.

Let’s unpack each of the key points from the media release.