The jobs not done

The Reserve Bank of Australia (RBA) has decided to keep the cash rate target on hold at 4.35 per cent.

Governor Michelle Bullock said "We have made good progress. Absolutely, we've made good progress but there is more work to do. The job's not done. And the best thing that we can do with our tool is help households deal with the cost of living by getting inflation down. That's our aim."

She indicated that even though rates have remained steady at this meeting, the board felt that inflation is still too high.

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