The Reserve Bank of Australia (RBA) has opted to maintain its cash rate at 4.1% following its April policy meeting, with Governor Michele Bullock outlining the central bank’s cautious approach to monetary policy during a press conference.
Addressing reporters under the RBA’s newly introduced media format, Bullock emphasized the need for prudence, stating that the board must avoid getting ahead of itself in making policy adjustments.
Key takeaways from the press conference include:
The board did not discuss the possibility of a rate cut.
The decision to hold rates was unanimous.
Inflation risks remain balanced on both sides.
No decision has been made regarding a potential move in May.
Confidence in inflation trends is improving but remains short of certainty.
Waiting for additional data before making further adjustments is deemed prudent.
The RBA’s measured stance underscores its focus on economic stability as it continues to monitor inflationary trends before committing to any policy shifts.
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