Live: No change to interest rates expected as RBA board meets

The Reserve Bank of Australia's monetary policy board is set to meet today to decide on the country's interest rate. After three rate hikes earlier this year, financial markets anticipate the cash rate remaining stable at 4.35 per cent. The central bank will also unveil its updated economic forecasts, encompassing inflation, growth, and unemployment predictions.

Tune in to our live blog for the RBA's decision, along with the day's financial news and insights from our dedicated business reporters. Please note that this blog is not intended as investment advice. The Reserve Bank board will announce its August interest rate decision at 2:30pm AEST, followed by an update on economic forecasts at the same time, and a press conference from RBA Governor Michele Bullock at 3:30pm.

We will provide comprehensive coverage, market reactions, and expert analysis. Earlier this year, the RBA increased interest rates in February, March, and May, but kept the cash rate at 4.35% during its last board meeting in June. Recent inflation data has been lower than expected, prompting more forecasts to point towards an extended hold in interest rates, or even cuts next year.

Additionally, there are indications that the housing market is easing. Whether you have a mortgage, are renting, saving, planning to buy, or managing retirement income, we invite your thoughts on how you feel about potential interest rate stability. Comment below to join the discussion. Michele Bullock, RBA Governor, will address the board, reiterating the central bank's commitment to controlling inflation.

According to chief business correspondent Ian Verrender, the RBA will continue to take necessary measures to combat inflation, with higher interest rates being preferable to the long-term effects of persistent inflation. Business reporter Adelaide Miller will guide you through today's market developments on our financial news blog.

The day holds significant importance as the RBA determines its stance on interest rates. Expect the ASX to begin slightly lower, with futures pointing down -0.2% to 9,177 points. The Australian dollar is currently above 70 US cents. For now, enjoy your morning coffee, tea, or juice and join us back here for the latest updates.