The Reserve Bank of Australia (RBA) hasits December 2024 cash rate decision.
The cash rate will remainat 4.35%.
It’s the ninth decision in a row where the RBA has maintained the same rate.
In a statement, the RBA Board said that while “inflationary pressures are declining,” it still believes that “risks remain”.
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RBA December 2024 decision
The RBA partly bases its decisions on underlying inflation, which measures the rate of price growth once you remove extremes on either side (such as a sudden fall in energy prices).
The latest data showed underlying inflation, also known as the ‘trimmed mean’, was at 3.5%. The RBA said this “remains too high”.
The RBA’s target range for underlying inflation is 2-3%.
