Reserve Bank Holds Official Cash Rate at 4.35 Percent

The central bank cited the recent drops in inflation as the main reason for its decision.

Shoppers walk around Pitt Street Mall in Sydney, Australia, on June 7, 2022. Brendon Thorne/Getty Images

Australian borrowers will have another month of reprieve as the Reserve Bank of Australia (RBA) kept the official cash rate on hold at 4.35 percent.

After the first 2024 board meeting concluded on Feb. 6, the RBA announced that the cash rate would remain unchanged for the second month.