Economists' Official Cash Rate expectations have proven correct. 

It's staying at 5.5% for the eight consecutive time. 

But the Reserve Bank's tone has softened, and they’re hinting that inflation will return to its 1-3% target by the year's end. 

ANZ Chief Economist Sharon Zollner told Ryan Bridge that the Reserve Bank was pretty careful to leave all their options open regarding a rate cut. 

She said that they see it as tilting the risks a little bit towards earlier cuts, but essentially, it’s going to be the data that decides when the inflation data is released next week. 

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