Australia’s Official Cash Rate Remains Unchanged for Another Month

A man walks past the Reserve Bank of Australia in Sydney, Australia, on June 7, 2022. Muhammad Farooq/AFP via Getty Images

The Reserve Bank of Australia (RBA) has paused its interest rate hiking cycle for the third month, effectively maintaining the official cash rate at 4.1 percent.

Following its latest board meeting on Sept. 5, the RBA decided to keep the cash rate unchanged to have more time to assess the impact of its previous 12 consecutive interest rate hikes, as well as Australia’s economic outlook.