At its September meeting, the Reserve Bank of Australia held its cash rate at 4.35%, matching market expectations and maintaining borrowing costs for the seventh consecutive meeting. The committee decided to keep the interest rate on balances held in exchange for settlement at 4.

The RBA has spent weeks fending off stiff criticism about its hard line on when to start cutting rates. As struggling households grow more impatient for relief, where does the central bank go from here?

Australia’s central bank on Tuesday reiterated that interest rate cuts were unlikely in the near term as it held policy steady, but softened its hawkish stance by saying monetary tightening was not discussed.

The Reserve Bank of Australia kept interest rates steady, deepening a split with global counterparts including the Federal Reserve that are loosening policy as they grow increasingly confident that inflation is under control.

Australia's central bank held interest rates steady on Tuesday as expected, while reiterating that policy needed to stay tight and it was not ruling out further increases if needed to control inflation.

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