Inflation still too high –

High inflation makes life difficult. It damages the functioning of the economy as it erodes the value of savings, hurts family budgets, makes it harder for businesses to plan and invest, and worsens income inequality.

Recent data indicated to the RBA that the upside risks to the inflation outlook have increased. To avoid even higher interest rates and high unemployment in the future, the RBA took action today.

Click below to read the latest update from The Reserve Bank of Australia (RBA) on:
– interest rates & inflation
– local & global economies
– employment & wages

How do the Reserve Bank come to their decisions on Interest Rates?
The Board of the RBA consider the outlook for the global economy, bond yields, the Australian economy, the Australian labour market, housing market & inflation.

Philip Lowe, Governor of The Reserve Bank, explains everything here in his latest economic update

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Inflation still too high