At the conclusion of its September 30 meeting, the Reserve Bank of Australias monetary policy committee decided on Tuesday morning to keep interest rates unchanged at 3.60%, the lowest level since April 2023, in line with market expectations.

In its August meeting, the RBA had cut interest rates by 25 basis points to 3.60%, resuming the monetary easing cycle that had paused in July.

Todays decision aims to allow more time to assess economic developments in the country. The statement noted that recent data suggests inflation may be higher than expected in the third quarter, while the broader economic outlook remains uncertain.

This statement is considered positive for the Australian dollar.