12/5/2023, 4:31 AM (Source: TeleTrader)
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Australia's central bank keeps rates steady

Reserve Bank of Australia (RBA) revealed on Tuesday it decided against changing its monetary policy setting in December. The central bank's targets for the cash rate and the interest rate on Exchange Settlement balances will remain at 4.35% and 4.25%, respectively.

"Whether further tightening of monetary policy is required to ensure that inflation returns to target in a reasonable timeframe will depend upon the data and the evolving assessment of risks. In making its decisions, the Board will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market," RBA Governor Michele Bullock said in her statement, announcing the board's monetary policy decision.

Baha Breaking News (BBN) / NL