SYDNEY: Australia’s central bank held interest rates steady on Tuesday as expected, reiterating policy would need to stay restrictive until it was certain core inflation was slowing as desired.

Wrapping up its November policy meeting, the Reserve Bank of Australia (RBA) kept rates at a decade-high of 4.35%, where they have been for the last year, and reiterated it was not ruling anything in or out on future policy.

Australian dollar unmoved as RBA stands pat, RBNZ sounds gloomy

Markets had wagered heavily on a steady outcome given the labour market was proving surprisingly strong and the RBA had repeatedly said it was too early to consider easing.