Reserve Bank of Australia holds policy rate

RBA
Reserve Bank of Australia, Sydney
Rachael King

The board of the Reserve Bank of Australia (RBA) has kept its policy rate unchanged for the second straight meeting but said it has not ruled out further rate hikes.

The RBA today (February 6) kept the cash rate unchanged at 4.35%, the highest level since December 2011. The decision had been widely expected by analysts. 

The central bank has now raised the rate by a total of 425 basis points since May 2022.

Australia’s consumer price index in December 2023 showed a 3.4% year-on-year rise in

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