Australia's central bank holds cash rate at 4.35%

Pedestrians walk past the Reserve Bank of Australia building in central Sydney. — Reuters

SYDNEY: Australia's central bank held interest rates steady on Tuesday as expected, while reiterating the run of coming economic data would determine whether a further hike might be needed at some point.

Wrapping up its December policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35%, having lifted them by a quarter point the previous month.

Markets had wagered heavily on a steady outcome given inflation had eased a little more than expected in October and the full pain of the RBA's tightening was spreading through the economy. - Reuters