RBA pauses rate hikes as inflation slows

Central bank board has not ruled out further tightening

Reserve Bank of Australia
Photo: Alex Towle

The Reserve Bank of Australia paused rate hikes for the first time in 11 months today (April 4), saying it needs time to assess the impact of previous moves and the economic outlook.

The nine-member board decided to keep the cash rate unchanged at 3.6%, the highest level since June 2012. The central bank has raised the benchmark rate by a total of 360 basis points in 10 consecutive meetings since May last year to curb rising inflation.

“The board recognises that monetary policy operates with a

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