Australia's central bank holds rates at 3.60%, signals caution
SYDNEY - Australia's central bank on Tuesday left its cash rate steady as expected at 3.60%, saying it was cautious about easing further given higher core inflation, firmer consumer demand and a revival in the housing market.
Wrapping up a two-day policy meeting, the Reserve Bank of Australia (RBA) said recent data suggested inflationary pressures could remain in the economy, but offered scant guidance on the prospect of further cuts.
Markets had seen little chance of a rate cut this week following an uncomfortably hot reading on third-quarter inflation, and also see scant prospect of an easing in December.
Reuters
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