RBA Leaves Cash Rate Target Unchanged at 3.60%

The Reserve Bank of Australia (RBA) has decided to keep the interest rate unchanged at 3.6%, pausing its aggressive tightening cycle. Despite global banking turmoil, the RBA states the banking system is strong but warns that further policy tightening may be needed. The market reaction shows a slight positive shift, with the Aussie dollar remaining weak. The RBA reiterates its medium-term inflation expectations and will monitor CPI and spending to determine future rate changes.

What are the RBA's medium-term inflation expectations according to the latest statement?

What is the RBA's target inflation rate?