RBA Maintains Cash Rate at 3.60%

By Sophia Rodrigues

The Reserve Bank of Australia left the cash rate unchanged at 3.60%, judging it appropriate to remain cautious while monitoring the inflation outlook.

The statement was hawkish, with the RBA noting recent data suggested risks to inflaiton had tilted to the upside.

"The data do suggest some signs of a more broadly based pick-up in inflation, part of which may be persistent and will bear close monitoring," the RBA said.