Live: No change to interest rates expected as RBA board meets

The Reserve Bank of Australia's monetary policy board is widely expected to keep the cash rate unchanged at 4.35% when it concludes its meeting today. This decision follows three rate increases earlier in the year, with financial markets pricing in a hold.

Alongside the interest rate decision, the RBA will publish its latest economic forecasts, providing updated outlooks on inflation, economic growth, and unemployment. Recent inflation figures have come in lower than anticipated, leading some analysts to predict an extended period of stable rates or even potential cuts in the coming year.

The cooling property market further supports the expectation of a pause. Market participants will be closely watching Governor Michele Bullock's statements for insights into the RBA's strategy for combating inflation while navigating a shifting economic landscape. The central bank has consistently emphasized its commitment to controlling inflation, even if it means enduring the short-term pain of higher interest rates.

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Inflation is the enemy. The RBA will do whatever it takes to defeat it, and the pain of higher interest rates is far more preferable than the long-term pain of entrenched inflation.