The Reserve Bank of Australia board has met for its monthly meeting in April to make a major decision on whether to pause or keep hiking interest rates.
This was flagged as the bank's most challenging rates decision since May 2022.The Reserve Bank of Australia has paused interest rates, keeping the cash rate at its current 3.6 per cent.
RBA Governor Philip Lowe said in a statement on Tuesday the central bank's board decided to hold interest rates steady to provide "additional time to assess the impact of the increase in interest rates to date and the economic outlook".With so many Australians struggling, why is the RBA considering lifting rates again?
Mr Lowe also cited recent consumer price index data, which he said suggested inflation had peaked in Australia. "That's why the costs of living are the primary focus of our economic plan and the upcoming budget," he said.
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