RBA interest rates: Reserve Bank of Australia leaves official cash rate steady at 4.1%

Homeowners with a mortgage will be breathing a sigh of relief after RBA pauses rate rising at Tuesday’s board meeting

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Australian borrowers have had a reprieve after the Reserve Bank paused its interest rate hikes for only the second time in the past 14 meetings, giving the central bank more time to assess the state of the economy.

The RBA left its official cash rate at 4.1% on Tuesday which is still the highest level in 11 years. Economists had been divided in their forecasts, with about half predicting the pause and the others expecting another 25 basis point increase.

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