RBA Leaves Cash Rate Unchanged at 4.10%

 

For the second straight month, the Reserve Bank of Australia (RBA) held official interest rates steady at 4.10%.

Market commentators were split ahead of the decision, with some expecting a rise due to the strong job market. However, consumer price index figures recently released by the Australian Bureau of Statistics found annual inflation slowed to 6.0% in the June quarter, from 7.0% in the March quarter.

In light of this, RBA governor Philip Lowe said the board had left rates on hold to give it more time to assess the economy.

However, he did not rule out more interest rate rises.

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