RBA leaves interest rate on hold at 4.35% despite higher than expected inflation

Borrowers have been spared a 14th interest rate rise and further increases are not certain as the Reserve Bank of Australia avoids a “tightening bias” even as inflation retreated slower than previously expected. The RBA left its cash rate on hold at 4.35% for a fourth consecutive meeting on Tuesday in a result that was widely expected. Only one economist, Capital Economics, predicted the central bank would lift the cash rate. Governor Michele Bullock later told a press conference in Sydney that the RBA had maintained its neutral status although it did consider the case for a rate rise at this week's meeting.