At a time when inflation is within the RBA’s target band, today was an opportunity to take the pressure off families who have been paying too much for too long.

“The high interest rates are slowing the Australian economy at a time when economic growth is on life support,” said Matt Grudnoff, Senior Economist at The Australia Institute.

“With the inflation rate within the target band, what more information does the RBA need to cut rates?

“This decision comes with real costs. Households are struggling to pay the bills, and this delay will only cause more pain.”