The Reserve Bank of Australia (RBA) has decided to keep the nation's cash rate on hold at 4.1% for the third consecutive month. This comes as Governor Philip Lowe makes his final monetary policy decision before leaving his position. Lowe stated that the board is waiting for more economic data to assess if further action is needed to address falling inflation rates. Treasurer Jim Chalmers called the decision a moment of relief for Australians, but acknowledged that many households are still struggling. The RBA aims for inflation to return to 2-3%, but currently, the consumer price index is at 6%.

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