Blogotariat

The Reserve Bank has left the cash rate unchanged at 4.35%, in a decision announced today.

The cash rate has now been held at 4.35% for the past four months.

In a statement released today, the RBA board says that inflation has moderated but is still high. It says the “outlook is highly uncertain”.

• Interest Rate Movements Since 1990

Watch RBA Governor Michele Bullock’s press conference (39m):

The commercial future of AI will soon be bigger than the actions of any firm, individual, research team, or open-source community. In the near term, a massive tailwind of potential use cases and nearly completed projects will determine the rate of progress in creating value for users and suppliers. Still, the source of the next frontier commercial breakthrough and the distribution of profits look undetermined and, for reasons to be explained, underdetermined.

Jeremy Rockliff, the Liberal Premier of Tasmania, has announced that negotiations with two former Liberal MPs have broken down and he will call an early election tomorrow.

Rockliff said John Tucker and Lara Alexander had “failed to commit to a new, enduring agreement”, following their resignations from the Liberal Party in May, 2023. The former Liberals had concerns relating to the proposed Macquarie Point Stadium project. Their resignations sent the government into minority status in the House of Assembly.

The Reserve Bank of Australia today made no change to the cash rate, leaving it at 4.35%.

The 4.35% rate has been in force since November 2023.

The bank’s decision is its first in a restructured process. As part of the new processes, the Governor of the Reserve Bank, Michele Bullock, held a press conference an hour after the bank’s decision was announced.

Watch Michele Bullock’s press conference (45m)