The Reserve Bank of Australia held interest rates steady on Tuesday as inflation eased in recent months, but said that more rate hikes may still be required, given that inflation remained “too high.”
The bank kept its cash rate target at 4.10%, ducking some expectations for a 25 basis point hike. Tuesday now marks the second straight month the RBA has kept rates steady after raising them by 400 bps over the past year.
Read More : RBA Holds Rates Steady as Inflation Eases, Leaves Room for Future Hikes