Reserve Bank holds rates at 4.35%

The Reserve Bank of Australia has kept interest rates on hold at 4.35% after three consecutive rate hikes earlier in the year. RBA Governor Michelle Bullock states inflation remains too high, particularly with fuel price increases affecting other goods and services, though she hasn't ruled out future rate rises. HSBC Chief Economist Paul Bloxham discusses economic indicators including falling employment, rising unemployment, weakening consumption and a cooling housing market, whilst arguing the government's budget focuses on wealth redistribution rather than productivity growth.See omnystudio.com/listener for privacy information.