Australia's Central Bank Holds Key Rate at 12-Year High Amid Inflation Concerns

- Australia's Reserve Bank held its cash rate at 4.35% for the sixth consecutive meeting, maintaining a 12-year high. - The central bank aims to curb inflation while preserving employment gains made since the pandemic. - The Australian dollar edged higher, and three-year bond yields adjusted as traders reduced bets on aggressive rate cuts. - Governor Michele Bullock will address the media at 3:30 p.m. Sydney time, following the decision. - The RBA upgraded its forecasts for core inflation and economic growth, expecting inflation to ease to 3.5% by year-end and 3.1% by mid-2025. Source: https://www.hindustantimes.com/business/recession-in-australia-countrys-central-bank-holds-key-rate-at-12-year-high-101722922237833.html