Cash rate on hold as the Reserve Bank indicates it will monitor state of economy and the outlook before lifting borrowing costs further
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Australia’s Reserve Bank has left its key interest rate unchanged for the first time in 11 meetings, indicating that it will monitor the impact of a record run of increases before lifting borrowing costs again. More increases are still possible.
The RBA on Tuesday left its cash rate target at 3.60%. Economists had been divided about whether the central bank would pause for the first time since May or hike by another quarter point to 3.85%.
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Continue reading…Cash rate on hold as the Reserve Bank indicates it will monitor state of economy and the outlook before lifting borrowing costs furtherFollow our Australia news live blog for the latest updatesGet our morning and afternoon news emails, free app or daily news podcastAustralia’s Reserve Bank has left its key interest rate unchanged for the first time in 11 meetings, indicating that it will monitor the impact of a record run of increases before lifting borrowing costs again. More increases are still possible.The RBA on Tuesday left its cash rate target at 3.60%. Economists had been divided about whether the central bank would pause for the first time since May or hike by another quarter point to 3.85%.Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup Continue reading…