The Reserve Bank of Australia on Tuesday kept its cash rate on hold unexpectedly, but downgraded its growth and inflation forecasts suggesting subdued price pressures across the economy.
The board of the Reserve Bank of Australia, governed by Governor Philip Lowe, voted to maintain the cash rate at 1.50 percent. The interest rate has been on hold since August 2016.
Economists had expected a 25 basis point cut to 1.25 percent this month.
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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.