The Reserve Bank of Australia left its benchmark interest rate unchanged on Tuesday as policymakers evaluate the effects of three consecutive rate hikes and the impact of oil supply disruption.
The policy board, governed by Michele Bullock, unanimously voted to hold the cash rate target at 4.35 percent.
The bank had lifted the policy rate by 25 basis points each in February, March and May.
Policymakers expect inflation to remain high for some time as higher fuel prices added directly to inflation and also there are indications that this is passing through to the prices of other goods and services.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.