"The Reserve Bank decision to leave the cash rate unchanged will be welcomed by households and businesses who are still feeling the accumulating impacts of earlier rate increases," Innes Willox, chief executive of the national employer association Ai Group said today.

"Australia's inflation rate needs to come down more rapidly than it has to date, and the more restraint exercised by business, employees and governments in price setting and wage negotiations, the less need there will be to further slow the economy and reduce employment opportunities," Mr Willox said.

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