Odaily Planet Daily News: After three consecutive rate hikes began to put pressure on the Australian economy, the Reserve Bank of Australia (RBA) has held its key interest rate steady for the first time this year. On Tuesday, the nine-member board voted unanimously to keep the cash rate at 4.35%, in line with expectations. RBA Governor Michele Bullock will hold a press conference later, and investors will be watching to see if policymakers are entering a prolonged pause or maintaining their tightening stance.

The RBA stated in its announcement: "Since the start of the year, the cash rate target has been raised three times. The current financial environment is more restrictive than before, and signs of an economic slowdown are emerging as expected." This pause marks a moderation in the RBA's aggressive tightening campaign, an approach that had previously set it apart among major central banks. Although policymakers continue to warn that inflation remains too high and that elevated energy costs linked to the conflict with Iran pose upside risks, recent softer data has provided the central bank with the leeway to hold steady and assess the situation. (Jin Shi)

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