The Reserve Bank of Australia has kept the cash rate unchanged at 4.35 per cent at its August meeting.
The decision was made by the RBA’s Monetary Policy Board as inflation remains above the Bank’s target range.
The RBA says inflation is still too high, with price pressures remaining a key concern for the Australian economy.
The Bank has already raised interest rates three times this year and says monetary policy is now restrictive.
The RBA will continue to closely monitor inflation, household spending, employment and economic growth before making its next move.
Home loan borrowers will now turn their attention to the RBA’s next interest rate decision, scheduled for September 29.
