Australia extends rate pause to second month, currency drops

(Image: Bloomberg)

Tue, 01 Aug 2023

By Swati Pandey(Bloomberg) -- Australia’s central bank kept its key interest rate unchanged on Tuesday following a cooling of inflation pressures and weaker household spending while keeping the door ajar to future hikes.The Reserve Bank of Australia (RBA) left its cash rate at 4.1% for a second straight meeting, wrongfooting a majority of economists but in line with market expectations. The second-consecutive pause suggests the RBA may be approaching the end of its tightening cycle.“Some further tightening of monetary policy may be...

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