Australia’s Official Cash Rate Remains Unchanged at 4.35 Percent in March

The Reserve Bank of Australia cited the steadying of inflation as the main reason for its decision.

Governor of the Reserve Bank of Australia (RBA) Michele Bullock speaks to the media during a press conference in Sydney, Australia, on Feb. 6, 2024. AAP Image/Bianca De Marchi

Australia’s official cash rate will remain steady at 4.35 percent following a Reserve Bank board meeting on March 19.

The result is in line with market expectations and marks the fourth consecutive month that the central bank has kept the cash rate on hold since the last time it was raised in November 2023.