The board of the Reserve Bank of Australia viewed that further monetary policy tightening might be required to bring inflation to the target but policymakers assessed that the interest rate should remain unchanged at the July meeting to alleviate the risk of slower economic growth.
Members discussed either increasing the cash rate by a quarter-point or holding the rate unchanged at the current level, the minutes of the meeting held on July 4 showed on Tuesday.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.