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The Reserve Bank of Australia kept the cash rate on hold in its final decision for the year.
The board met on Tuesday and decided to keep the cash rate at 4.35 percent, as it did for the ninth time in a row.
The interest rate remains at a 12-year high since its last hike in November 2023, a raised level aimed at taming inflation.
The hold was widely forecast by economists, with all 44 polled by Reuters last week predicting the move.
Most now expect the first cut in the June quarter next year, a departure from the November survey when the first three months of 2025. were the more popular choice.
Meanwhile, other central banks around the world have started to ease borrowing costs, but the RBA maintains that Australia has not taken interest rates as high as its peers and the labor market has proved unusually strong.
More to come…
– With AAP
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