Australia retained its key interest rate for the second straight month on Tuesday.
The board of the Reserve Bank of Australia governed by Glenn Stevens maintained the cash rate at 1.75 percent. The bank had cut its rate by 25 basis points in May, which was the first reduction in a year.
The outcome of the meeting came in line with expectations.
The board judged that holding monetary policy steady would be prudent at this meeting.
“Over the period ahead, further information should allow the Board to refine its assessment of the outlook for growth and inflation and to make any adjustment to the stance of policy that may be appropriate,” the bank said.
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