RBA interest rates: Reserve Bank of Australia leaves cash rate on hold at 3.85%
The decision will come as a shock to financial markets and a large majority of experts who were sure the RBA board would cut interest rates for a second straight meeting.
Weak growth at the start of the year, inflation at 2.1%, and serious worries about the impact of Donald Trump's trade war on the global economy were all cited as reasons for a third rate cut of 2025.
Attention now turns to the RBA governor Michele Bullock's press conference at 3.30pm.
More details soon …
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