Australia's central bank maintains interest rate at 4.35% per year

The RBA (Central Bank of Australia) maintained the basic interest rate at 4.35% per year this Tuesday (16), in a unanimous decision.

In a statement, the RBA said that "inflation is likely to remain high for some time" and that there are indications that higher fuel prices are being passed on to goods and services.

The institution also stated that there are signs that the economy is slowing down, as expected, following interest rate increases at the beginning of the year.

"The RBA continues to assess the response to previous rate increases," the statement said.

Between February and May, the RBA raised interest rates three times, to the current 4.35% per year.

Source: CNN