The Reserve Bank of Australia on Tuesday decided to retain its benchmark cash rate at record-low of 2.5 percent, in line with economists' expectations.
At the meeting, the Reserve Bank Board noted that the current setting of the monetary policy remained "appropriate".
The Board said it will "continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target."
In a statement, RBA Governor Glenn Stevens said Australian dollar rose recently, but is still about 10 percent below its level in April. A lower level of the currency than seen at present would assist in rebalancing growth in the economy, he said.
Stevens said the full effects of easing in monetary policy since late 2011 are still coming through, and will be for a while yet.
The economy has been growing a bit below trend over the past year and this is expected to continue in the near-term as the economy adjusts to lower levels of mining investment, Stevens noted.
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June 19, 2026 16:46 ET Major central banks continued to dominate the economic news flow this week too, led by the Federal Reserve, as they announced their latest policy decisions. The Federal Reserve policy session was in focus as it was the first to be led by the new chief Kevin Warsh. In Europe, central banks of the U.K. and Switzerland announced their rate decisions. In Asia, the Bank of Japan drew attention for its policy moves, while data out of China threw some light on the state of the economy.