Australia's central bank decided to halt its monetary policy tightening in order to assess the full impact of the cumulative 350 basis points increase since last May but policymakers pointed out that some further tightening may be needed to bring inflation back to the target.
The board of the Reserve Bank of Australia left the cash rate target unchanged at 3.60 percent. The outcome of the meeting matched economists' expectations.
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by Renju Jaya
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