Australia's central bank on Tuesday left its cash rate steady at 3.85%, a shock for markets that had confidently wagered on a cut, saying the majority of the board wanted to wait for more information to confirm inflation was slowing.

In a decision that diverged from nearly all major economic forecasts, the Reserve Bank of Australia (RBA) has opted to hold the official cash rate steady at 3.85%. The announcement, made following the bank’s July meeting,

Australias central bank is closely monitoring U.S. tariff developments, as global economic uncertainty grows, according to Reserve Bank of Australia (RBA) Deputy Governor Andrew Hauser. Speaking at a Sydney event