Australia pauses rate hikes

By Agence France-Presse

Jul 05, 2023 12:27 am

SYDNEY: The Reserve Bank of Australia left its key interest rate unchanged on Tuesday, with governor Philip Lowe saying that while inflation had 'passed its peak' the economic outlook remained uncertain.

The decision comes after monetary policymakers last month hiked the benchmark rate 25 basis points to 4.1 percent its highest level since May 2012.

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