Australia’s Reserve Bank Governor, Michele Bullock, speaks during the Monetary Policy Decision media conference in Sydney, Australia on Feb. 18, 2025. David Gray/AFP via Getty Images
Australians hoping for rate relief may not have to wait long.
The Reserve Bank has put rate cuts on hold—for now—but left the door wide open.
At its July 9 meeting, the RBA kept the cash rate steady at 3.85 percent, with Governor Michele Bullock emphasising the pause was about “timing, not a change in direction.” The move was met with disappointment from the treasurer and retail association.
The bank is holding out for stronger evidence that inflation is falling for good, and expects the next round of data due in August to help confirm that. Once convinced, it says a rate cut will be back on the table.
