Reserve Bank of Australia meeting —

At its 9 December 2025 meeting, the Reserve Bank of Australia held its policy rate at 3.60%. The decision passed 9-0.

Decision

hold — 3.60% to 3.60%

Vote: 9-0

Key passages

the Board decided to leave the cash rate unchanged at 3.6 per cent.

No change as expected, but the context is hawkish.

Inflation came in a bit stronger than expected in the September quarter. Some of this looked to be temporary factors but there were signs of persistence in some items.

Inflation beat expectations and persistence is emerging, challenging the disinflation narrative.

Meeting documents

Background reading

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