The Reserve Bank of Australia on Tuesday decided to keep its benchmark interest rate on hold, but flagged a downgrade to growth forecast for this year amid increasing downside risks to the global growth outlook, impact of falling house prices as well as uncertainty over household spending.
The board of the Reserve Bank of Australia, governed by Philip Lowe, voted to maintain the cash rate at 1.50 percent. The interest rate has remained at the current level since August 2016.
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May 08, 2026 15:50 ET Manufacturing and services sector survey results and labor market data from main economies were the highlight on the economics news front this week. Factory orders and jobs report dominated the news flow in the U.S. Similarly, industrial production data from German garnered attention in Europe. In Asia, purchasing managers’ survey results from China and the central bank decision from Australia were in focus.