The Reserve Bank of Australia maintained interest rates at a 12-year high, in line with broad market expectations. It also maintained a neutral stance.
The Reserve Bank of Australia kept the cash rate unchanged at 4.35% for the fourth consecutive meeting on Tuesday.
The Reserve Bank of Australia said in a statement that the central bank\’s policy committee expects that it will take some time for inflation to remain within the target range. Therefore, it will continue to be vigilant about upward risks. The committee does not rule out any possibility.
After the policy decision was announced, the Australian dollar fell 0.4% against the US dollar to US$0.6602.
Data compiled by Bloomberg showed that the policy-sensitive three-year Australian government bond yield fell 4 basis points to 3.98% as swap traders cut their bets on raising interest rates this year.
All eyes will now turn to central bank governor Michele Bullock\’s press conference at 3:30pm Sydney time.
RBA sticks to neutral stance, keeping cash rate at 12-year high
The Reserve Bank of Australia kept interest rates at a 12-year high, in line with broad market expectations, while maintaining a neutral stance
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