• Prior 3.60%
  • Policy decision was unanimous
  • The decline in underlying inflation has slowed
  • Recent data, while partial and volatile, suggest that inflation in the September quarter may be higher than expected at the time of the August SOMP
  • Domestic economic activity is recovering but the outlook remains uncertain
  • Private consumption is picking up as real household incomes rise and measures of financial conditions ease
  • Various indicators suggest that labour market conditions have been broadly steady in recent months
  • Labour market conditions remain a little tight
  • Uncertainty in the global economy remains elevated
  • Extreme outcomes on US tariffs are likely to be avoided
  • But trade policy developments are nevertheless still expected to have an adverse effect
  • It was appropriate to maintain the cash rate at its current level amid signs that private demand is recovering, persistent inflation in some areas and labour market conditions overall remaining stable
  • It was appropriate to remain cautious, updating its view of the outlook as the data evolve
  • Will be attentive to the data and the evolving assessment of the outlook and risks to guide its decisions
  • Maintaining price stability and full employment is the priority
  • Statement details to follow...
Source: Investing Live