Australia Central Bank Keeps Rate Unchanged

(RTTNews) - The Reserve Bank of Australia left its benchmark rate unchanged on Tuesday after lowering it in February.

The policy board of the RBA, governed by Michele Bullock, decided to maintain the cash rate target at 4.10 percent, as widely expected. The interest rate paid on Exchange Settlement balances was also retained at 4 percent.

The bank had reduced the interest rate for the first time since 2020 in February.

"The Board's assessment is that monetary policy remains restrictive," the bank said. "The continued decline in underlying inflation is welcome, but there are nevertheless risks on both sides and the Board is cautious about the outlook," the bank added.