RBA holds rates

The Reserve Bank of Australia announced Wednesday morning, 4 August, that the official cash rate would remain at 5.25 per cent, where it has been since December.

The central bank lifted rates late last year in the face of a run-up in debt and house prices, which have since showed signs of softening.

But strong consumer spending, a recovery in exports and low unemployment still indicate another hike may still be on the cards later this year, although probably not until after the federal election