Subject: Statement by the Monetary Policy Board: Monetary Policy Decision

⚡️ Highlights:

1. The cash rate has been left unchanged at 3.60 per cent, with uncertainty surrounding recent inflation increases being attributed to temporary factors.

2. Economic activity is on the rise, with growth in private demand driven by consumption and investment, and housing market activity and prices also increasing.

3. Labour market conditions remain tight, with the unemployment rate rising gradually and employment growth slowing, but wages growth continues to be strong.

4. There are uncertainties surrounding the outlook for domestic economic activity and inflation, with risks to inflation now tilted to the upside.

5. The Board will continue to monitor data and assess the evolving outlook and risks to guide its decisions, focusing on global economic and financial market developments, domestic demand, and the outlook for inflation and the labour market.

✍️ Reserve Bank of Australia | Full Article

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