MNI BRIEF: RBA Holds Cash Rate At 4.1% As Expected

The Reserve Bank of Australia monetary policy board left the cash rate at 4.10% Tuesday, noting future decisions would rely on data and the assessment of risks. 

“In doing so, it will pay close attention to developments in the global economy and financial markets, trends in domestic demand, and the outlook for inflation and the labour market,” the board noted in its statement. The decision was largely anticipated and follows February’s 25 basis point cut. (See MNI RBA WATCH: Board To Hold As Election Looms)

The board reiterated its stance that returning inflation to target remains its highest priority. 

Governor Michele Bullock will press the media at 3:30pm local time.