Australia's Elevated Inflation Suggests RBA to Extend Rate Pause.

Australia's inflation rate in April was higher than expected, indicating that price pressures are remaining strong and supporting the argument for the Reserve Bank of Australia (RBA) to maintain its current high interest rates. The consumer price indicator increased by 3.6% compared to the previous year, surpassing economists' predictions of 3.4%. The core measure, which excludes volatile items, remained at 4.1%. The RBA has kept its cash rate at 4.35% since November and is closely monitoring data to determine if further rate increases are necessary. [Extracted from the article]