11/08/2026
At its August meeting the RBA have left rates on hold.
The statement from the monetary policy board following the Reserve Bank’s decision to keep rates on hold on Tuesday is being read by the market as offering little guidance on the future direction of monetary policy as it pivots away from more hawkish language.
The board reiterated its usual promise to do all necessary to bring inflation back within its 2 per cent to 3 per cent target range, including by increasing borrowing costs. But economists read the statement as fairly dovish in comparison to the tone struck by the board following previous decisions.
“The June quarter inflation result came in below both market expectations and the Reserve Bank’s May forecast. Together, a somewhat softer labour market and a broadening housing downturn have provided an opportunity for the Reserve Bank to wait and see,” said Stephen Smith, partner at Deloitte Access Economics