Australia's central bank left its monetary policy unchanged, as widely expected on Tuesday, and assessed that the new coronavirus variant Omicron is unlikely to derail the recovery.
The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to leave its cash rate unchanged at a record low of 0.10 percent.
The board also voted to continue with the purchase of government securities at the rate of A$4 billion a week until at least mid February 2022.
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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.