interest rates at a 13-year high of 4.35% since late last year. In the third quarter, the country’s headline consumer price inflation slowed sharply to 2.8%, mainly helped by the government’s energy bill rebates. The core inflation, which excluded electricity and automotive fuel prices, albeit at a over two-year low of 3.5%, still sits above the central bank’s target range of 2% to 3%. The RBA governor Michele Bullock had said last week that the core inflation is “too high” to consider interest rate cuts in the near term. She reiterated that monetary policy will stay restrictive until the bank is “confident” that the underlying inflation is on track to approach the midpoint of target range, namely 2.5%. The RBA’s next policy meeting is set on Dec.10, where the officials are widely expected to keep the cash rate unchanged. The central bank’s latest forecasts, published last month, showed it expected the “trimmed mean inflation,” namely core inflation, to ease gradually to 2.5% by late 2026.