Governor Michele Bullock keeps the cash rate unchanged at 4.35% even as inflation hits a 3.5-year low

Reserve Bank of Australia Governor Michele Bullock is expected to review figures on Wednesday showing inflation fell to a three-and-a-half-year low in September, as the central bank remains unconvinced that the economy is ready for interest rate cuts.

Economists expect quarterly inflation data Wednesday to show inflation returning within the central bank’s 2 percent to 3 percent target in September for the first time since March 2020, thanks in part to temporary state and federal electricity rebates and lower gasoline prices.

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