The Reserve Bank of Australia meets today and tomorrow, Monday 17 June 2024 and Tuesday 18 June 2024.
The bank's decision is scheduled to be issued at 2.30pm Sydney time on Tuesday
- This is 0430 GMT and 0030 EST
RBA Governor Bullock will hold her press conference an hour later, at 3.30pm local time (0530 GMT, 0130 EDT).
The latest data relevant to the bank's mandate shows that inflation is consistently above target (target range is 2 to 3%):
While the jobs market remains strong, the unemployment rate is not much higher than its recent five-decade lows:
- Australian unemployment rate in May 4.0% (vs. 4.0% expected)
Steady high inflation and a flexible labor market mean the bank will keep the cash rate at 4.35%. Expectations indicate a reduction, perhaps late this year or early next year:
Reserve Bank of Australia Governor Bullock