Australia's Central Bank Maintains Steady Interest Rates

SYDNEY (Reuters) – Australia's central bank held interest rates steady on Tuesday as expected, reiterating that policy would need to remain restrictive until core inflation shows the desired slowdown.

Wrapping up its November policy meeting, the Reserve Bank of Australia (RBA) maintained rates at a decade-high of 4.35%, unchanged for the past year. The RBA emphasized that it was not ruling out any options for future policy adjustments.

Markets anticipated this steady outcome due to a surprisingly strong labor market, with the RBA having stated that it is too early to consider easing rates.