Australia’s central bank holds cash rate at 4.35%

SYDNEY: Australia’s central bank held interest rates steady on Tuesday as expected, but cautioned that a further increase could not be ruled out given inflation was still too high.

Wrapping up its February policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, having last lifted them by a quarter point in November.

Australia shares hit fresh record high on miners, banks boost

Markets had wagered heavily on a steady outcome given inflation had eased more than expected last quarter.