Australia central bank keeps interest rates at 12-year highsscratch2.0, in line with broad market expectations, while maintaining a neutral stance.
The central bank of Australia kept the cash rate at 4.4% at its fourth consecutive meeting on Tuesdayscratch2.0.35% unchanged.
The Bank of Australia said in a statement that the central bank's policy committee expects that it will take some time for inflation to remain within the target range, so it will continue to be vigilant against upside risks, and the committee will not rule out any possibility.
After the policy decision was announced, the Australian dollar fell 0.4% to US$0.6602. The yield on policy-sensitive three-year Australia government bonds fell 4 basis points to 3.98 percent as swap traders cut their bets on raising interest rates this year, Bloomberg compiled data showed. All eyes will now turn to central bank governor Michele Bullock's press conference at 3:30 pm Sydney time.
