The Reserve Bank of Australia has held the cash rate steady at 3.60 per cent today, adopting a cautious stance as mixed economic signals create uncertainty about the appropriate policy response.

While the labour market shows signs of softening with 5,400 jobs lost in August, the RBA has chosen to monitor developments further as headline inflation rose to 3.0 per cent, its highest level in a year.

The decision to hold reflects the central bank’s assessment that while labour market conditions have cooled, with employment growth slowing dramatically since April, current unemployment levels at 4.2 per cent remain consistent with full employment.

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