The Reserve Bank of Australia (RBA) has issued a warning regarding the nation's inflation rate, which has fallen below the bank's target range. In response to this concern, the market has reacted by pushing out expectations for future rate cuts.
The RBA, in its latest quarterly statement on monetary policy, expressed its worry over the low inflation rate being observed in Australia. The target inflation range set by the RBA is between 2% and 3%, yet the current rate stands at a lower 1.1%.
