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The bank stated that more time was required to evaluate how the economy and inflation would be impacted by tighter financing conditions.
Following its April meeting, the RBA issued a statement cautioning that additional rate increases may very well be required to bring inflation back to the desired levels.
Markets had anticipated a break in the central bank's policy tightening cycle, and some experts did not completely rule out a rate increase given the high inflation rate.
source: reuters.com
Following its April meeting, the RBA issued a statement cautioning that additional rate increases may very well be required to bring inflation back to the desired levels.
Markets had anticipated a break in the central bank's policy tightening cycle, and some experts did not completely rule out a rate increase given the high inflation rate.
source: reuters.com
