RBA holds cash rate at 4.35% with tightening bias intact
The Reserve Bank of Australia held the cash rate at 4.35% in a unanimous decision.
The post-meeting statement retained an explicit tightening bias, flagging the possibility of a further hike if required to return inflation to target.
Recent inflation data came in firm but broadly in line with the RBA’s May forecasts, while unemployment pulled back after a volatile April print.