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February 6, 2024

Australia’s Reserve Bank maintains policy rate, ensuring economic stability.

The Reserve Bank of Australia (RBA) has announced that it will maintain its policy rate at 4.35%, marking the second consecutive meeting in which no rate changes have been made. However, the bank did not rule out future rate hikes. The decision to keep rates unchanged had been widely expected by analysts. The central bank has raised rates a total of 425 basis points since May 2022. Australia’s consumer price index in December 2023 showed a year-on-year rise of 3.4%.