The Australian Reserve Bank keeps interest rates unchanged.

The Reserve Bank of Australia maintained interest rates after three consecutive rate hikes, in hopes of gaining a clearer understanding of the possible path of inflation and the impact of oil market volatility. The central bank kept the official cash rate unchanged at 4.35% on Tuesday, in line with the widespread expectations of economists and traders. The Reserve Bank of Australia reiterated its desire to see more economic data to assess the impact of the three 25 basis point rate hikes since February on inflation. All nine members of the Reserve Bank of Australia's policy-making committee voted in favor of keeping the interest rates unchanged.