Australia's central bank left its key interest rate unchanged at a record low after cutting the rate by 25 basis points each at the previous two meetings.
The board of the Reserve Bank of Australia, governed by Philip Lowe, maintained the cash rate at a record low 1.00 percent, as widely expected, on Tuesday. The back-to-back rate cut in July was the first since mid-2012.
"The Board will continue to monitor developments in the labor market closely and ease monetary policy further if needed to support sustainable growth in the economy and the achievement of the inflation target over time," the bank said in a statement.
For comments and feedback contact: editorial@rttnews.com
Business News
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.