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Australia unexpectedly holds policy rate as it awaits more inflation data

AUSTRALIA, JUL 8 – The Reserve Bank of Australia postponed further cuts due to inflation uncertainty and a strong labor market, with six of nine board members voting to maintain the 3.85% cash rate.

  • The Reserve Bank of Australia held the cash rate steady at 3.85 percent in July, defying expectations of a rate cut.
  • The central bank delayed easing to gather more data, citing uncertainties over inflation, wages, pricing, and recent policy lags.
  • Economic growth slowed to 1.3 percent in Q1, missing forecasts, while domestic demand showed signs of rising despite weakening consumer spending and exports.
  • Financial markets experienced fluctuations as the Australian dollar climbed to 65.5 US cents, while the S&P/ASX 200 slipped by 0.24%.
  • The bank remains attentive to evolving risks and the upcoming June quarter inflation data before considering future rate changes.
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forbes.com.au broke the news in on Monday, July 7, 2025.
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