The Reserve Bank of Australia (RBA) decided to keep the interest rate steady at 4.35% in its latest meeting, marking the eighth consecutive time the rate has been held.

Following the announcement of the RBA’s decision to maintain the rate, investors shifted their focus to Governor Michele Bullock’s press conference for new insights into the potential timing of the central bank’s first interest rate cut.

However, underlying inflation remains steady, and a strong labor market continues to be key factors supporting the central bank's cautious approach toward rate cuts. Inflation has slowed to 3.5%, but it remains above the RBA's target range of 2-3%.

Source: Fxstreet