RBA Holds Interest Rates Steady Ahead of Federal Election

RBA holds rates steady, citing inflation risks, global uncertainty, and tight labour markets despite easing price pressures and recovering demand.

Australian dollar coins and banknotes in Melbourne, Australia on April 4, 2024. AAP Image/Joel Carrett

In its final monetary policy meeting before the federal election, the Reserve Bank of Australia (RBA) has kept interest rates unchanged, despite government hopes for a further cut.

The Board cited global uncertainties and the need for confidence in inflation returning to its target range before adjusting policy.