The Bank of Australia kept the benchmark interest rate unchanged for the third consecutive meeting, in line with the general expectations of the market. The bank reiterated that future policy trends will depend on subsequent economic data performance. At a time when price pressure is rising again and the job market is still tight, the Bank of Australia kept the cash interest rate at 3.6% on Tuesday. This is also the last interest rate meeting of the year. The policy statement said that the nine-member policy committee unanimously passed the decision. Governor Michele Bullock will hold a press conference at 15:30 local time in Sydney. “Recent data shows that the risk of inflation has turned upward, but it will take some time to assess the continuation of inflationary pressure,” the policy committee said in a statement. “The Commission will pay close attention to data and dynamic assessments of prospects and risks to guide decision-making.” After the announcement of the policy decision, the Australian dollar fell to 0.6616 against the US dollar, and the policy-sensitive Australian 3-year Treasury yield fell to 4.06%.

The Bank of Australia kept the benchmark interest rate unchanged for the third consecutive meeting, in line with the general expectations of the market. The bank reiterated that future policy trends will depend on subsequent economic data performance. At a time when price pressure is rising again and the job market is still tight, the Bank of Australia kept the cash interest rate at 3.6% on Tuesday. This is also the last interest rate meeting of the year. The policy statement said that the nine-member policy committee unanimously passed the decision. Governor Michele Bullock will hold a press conference at 15:30 local time in Sydney. “Recent data shows that the risk of inflation has turned upward, but it will take some time to assess the continuation of inflationary pressure,” the policy committee said in a statement. “The Commission will pay close attention to data and dynamic assessments of prospects and risks to guide decision-making.” After the announcement of the policy decision, the Australian dollar fell to 0.6616 against the US dollar, and the policy-sensitive Australian 3-year Treasury yield fell to 4.06%.