Australia central bank says it's cautious about inflation outlook as it keeps rates steady at 4.1%

The Reserve Bank of Australia maintained its benchmark policy rate at 4.1% despite lower-than-expected inflation, aiming for sustainable progress towards the target range of 2%-3%. RBA expressed caution due to global uncertainties like U.S. tariff announcements and emphasized the need for a gradual approach to monetary policy to achieve inflation targets. Australia’s GDP grew at 1.3% year on year in Q4 2024, with RBA Governor Michelle Bullock stressing the importance of sustained inflation within the target range.

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