It is expected that the RBA will keep interest rates unchanged in the latest meeting, marking the seventh consecutive time the rate has been held. There is also a tendency that the Reserve Bank of Australia will not reduce interest rates this year.

Michele Bullock, Governor of the Reserve Bank of Australia, made it clear in a speech earlier this month that the committee is not in a position to cut interest rates in the near future. She also commented that inflationary pressures remain high in certain parts of the economy.

However, the Australian Bureau of Statistics (ABS) reported that Australia's economy saw a higher-than-expected increase in employment in August, with the unemployment rate remaining at 4.2%, indicating the resilience of the labor market amidst an economic slowdown.

Source: Fxstreet