The Reserve Bank of Australia has signaled that it will extend the current 4.35% cash rate, and a rate cut is unlikely in the short term

The Reserve Bank of Australia has signaled that it will extend the current 4.35% cash rate. The committee had previously considered the possibility of raising interest rates and decided to keep interest rates unchanged to better balance risks. The cash rate may need to remain stable for "an extended period of time". Members agreed that a rate cut is unlikely in the short term. It is necessary to remain vigilant to the upward risks of inflation and policies need to remain tight. (Jinshi)