The Reserve Bank of Australia (RBA) has held the country’s official interest rate at 4.35% following its May monetary policy meeting.

The decision comes as the latest data from the Australian Bureau of Statistics showed annual inflation fell in the March 2024 quarter to 3.6%. This was the fifth consecutive quarter inflation has eased.

But while higher interest rates appear to be cooling the economy, RBA governor Michele Bullock has warned the ‘war isn’t won yet’. Consequently, it’s too soon to rule anything in or out with respect to the interest-rate outlook.

Read the full statement here.