Australia's central bank kept its key interest rate unchanged at a record low on Tuesday as economists had expected.
The board of the Reserve Bank of Australia governed by Philip Lowe kept the cash rate at 1.50 percent. The bank had reduced the rate by 25-basis points each in August and May.
Taking account of the available information, and having eased monetary policy at its May and August meetings, the Board judged that holding the stance of policy unchanged at this meeting would be consistent with sustainable growth in the economy and achieving the inflation target over time, the bank said in a statement.
Over the next year, the bank expects the economy to grow at close to its potential rate, before gradually strengthening. Inflation is forecast to pick up gradually over the next two years.
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April 24, 2026 15:15 ET Economics news flow was relatively light this week even as the conflict in the Middle East continued, raising concerns for policymakers. In the U.S., spending data, initial jobless claims and pending home sales were the highlights. Business confidence in the biggest euro area economy was in focus in Europe. Inflation data from Japan gained attention in Asia.