RBA holds cash rate at 4.35%, keeps door open for further hikes

Published Aug 11, 05:31 AM UTC

The Reserve Bank of Australia (RBA) held its cash rate steady at 4.35% for a second consecutive meeting on Tuesday, a decision that was widely anticipated by markets. The unanimous decision signals the central bank's cautious approach as it continues to combat inflation. The RBA reiterated its commitment to doing whatever is necessary to bring inflation back within its target band of 2% to 3%. While holding rates for now, the bank has kept the door open for further rate hikes if inflationary pressures persist. The decision reflects the central bank's balancing act between curbing inflation and supporting economic growth, with policymakers closely monitoring domestic and global economic conditions before making any further moves.