This time the RBA did not make a surprise, the interest rate remained at 4.10%!

<p>&nbsp;The Reserve Bank of Australia (RBA) met market expectations by keeping interest rates unchanged at 4.10% at its latest policy meeting.</p><p><br /></p><p>The following are the main details taken from the meeting.</p><p><br /></p><p>The RBA remains on the stance of returning inflation to target.</p><p>Some further tightening of monetary policy may be necessary.</p><p>Higher interest rates are necessary to create a more sustainable balance between supply and demand in the economy.</p><p>Policy makers still expect the economy to grow when inflation returns to the target range of 2%-3%.</p><p>As a result of that and the uncertainty surrounding the economic outlook, the RBA decided to keep rates unchanged this month.</p><p>It will give the RBA time to assess the impact of the rate hike and the economic outlook.</p><p>Any further tightening will depend on how the economy and inflation develop.</p><p>Inflation is still too high and will remain so for some time to come.</p><p>The outlook for household consumption remains a key factor in uncertainty.</p><p>The RBA remains wary of inflationary risks which are expected to persist.</p><p><br /></p><p>Based on the RBA's follow-up statement, it can be seen that the central bank still wants to continue tightening.</p><p><br /></p><p>Following the results, the initial reaction showed the Aussie dollar falling to around 0.6640 against the US dollar.</p><p><br /></p><p>However, the decline is not significant, as the market is still confident that the RBA will raise interest rates again in August.</p>