According to BlockBeats, the Reserve Bank of Australia has decided to keep the cash rate steady at the anticipated 3.60% as of Tuesday. Recent data suggests that inflation for the third quarter may exceed expectations, and the economic outlook remains uncertain. The central bank believes it is prudent to maintain a cautious policy stance, while also being well-positioned to respond to international developments.
Following a 25 basis point rate cut in August, the market had anticipated little chance of further easing this week. The higher monthly consumer price index has led to expectations that a comprehensive third-quarter inflation report, due at the end of October, should be awaited before any further policy adjustments are considered.