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The Reserve Bank of Australia left its benchmark interest rates unchanged at a 12-year high for a fourth straight meeting, as widely expected, on Tuesday. The policy board of the RBA, led by Governor Michele Bullock, decided to maintain the cash rate target at 4.
The Reserve Bank of Australia decided to keep its benchmark rate unchanged, as widely expected, on Tuesday. The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.
The Reserve Bank of Australia decided to keep its benchmark interest rate unchanged as expected on Tuesday but suggested that another rate hike cannot be ruled out, pushing forward the market expectations about the timing of the policy easing to the second half of the year.
Australia's central bank raised its benchmark rate by a quarter-point to a 12-year high, ending a four-session long pause, as inflation is likely to be more persistent than estimated though policymakers suggested that any further tightening is off the table.
Faster-than-expected inflation is likely to force the Reserve Bank of Australia to deliver a 25 basis point rate hike in November, which could be the last in the current tightening cycle.