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.

Reserve Bank Australia (RBA) March Monetary Policy Meeting.

RBA Board, during its Monetary Policy meeting today decided to increase the cash rate target by 25 basis points to 3.60 per cent. This is the tenth consecutive increase since May 2022