This marks a year since the last change, which was an increase of 0.25 percentage points in November 2023.

The decision was in line with expectations, as it comes shortly after the Australian Bureau of Statistics released the latest inflation data, showing a 2.8% annual increase in the September 2024 quarter, down from a 3.8% increase in the June quarter.

With inflation moving in the right direction, market commentators are increasingly forecasting interest rate cuts in early 2025.