Australia's Inflation Nears RBA Target
This is a Australia news story, published by CNBC, that relates primarily to RBA news.
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latest inflationCNBC
•Australia's inflation rate has come within its target range, but rate cuts likely won't come anytime soon
88% Informative
Australia 's inflation rate has come within the RBA 's target range in the month of August , easing from 3.5% in July to 2.7% .
The drop puts the rate below the Reserve Bank of Australia 's target band of 2-3% for the first time since August 2021 .
A day earlier , however, the bank said it did not see that a rate cut was on the horizon for Australia .
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