RBA May rate decision

Good morning everyone.

Below is the media release for yesterday's RBA interest rate decision. The full article is below however here are the highlights:

1. The Board has decided to keep the cash rate target and interest rate paid on Exchange Settlement balances unchanged.
2. Inflation is falling more slowly than expected, with high services inflation contributing to this trend.
3. The economic outlook remains uncertain, with inflation expected to return to target range by the second half of 2025.
4. High inflation and earlier interest rate rises have impacted household consumption and real disposable income.
5. Returning inflation to target is the Board's top priority, with a focus on sustaining medium-term inflation expectations within the target range.

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