SYDNEY (Reuters) – Australia’s central bank held interest rates steady on Tuesday as expected, while reiterating that it was not ruling out further increases if needed to control inflation.
Wrapping up its June policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, where they have been since a hike in November last year.
Markets had wagered heavily on a steady outcome given the economy almost ground to a halt in the first quarter and wage growth had slowed by more than expected. [AU/INT]
(Reporting by Wayne Cole; Editing by Sonali Paul)
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