RBA keeps policy rate steady
Decision comes after Australia’s inflation slows in May
The Reserve Bank of Australia kept its policy rate unchanged at 4.1% today (July 4), saying inflation has passed its peak but further monetary tightening might be needed.
The decision came after the central bank raised its cash rate by 25 basis points in two consecutive meetings in May and June. In total, the RBA has raised the policy rate by 400bp since May last year.
Holding interest rates steady will give the board more time to assess the impact of previous rate hikes, the economic outlook
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