Home topics news Reserve Bank of Australia. Source: RBA News News RBA ends record streak hikes Yajush Gupta April 4, 2023 The Reserve Bank of Australia (RBA) has today announced its decision to leave the cash rate unchanged at 3.60 per cent, as market analysts and policymakers expected. This decision was made at the RBA’s April 2023 monetary policy meeting and has followed ten consecutive interest rate hikes. At its meeting today, the Board decided to leave the cash rate target unchanged at 3.60 per cent and the interest rate on Exchange Settlement balances unchanged at 3.50 per cent. https://t.co/Yx8CADVg3f — Reserve Bank of Australia (@RBAInfo) April 4, 2023 The RBA’s decision to maintain the cash rate at its current level is not surprising, given the central bank’s cautious approach in recent months. The RBA recognises that monetary policy operates with a lag and that the full effect of the recent interest rate hikes is yet to be fully realised. Currently, the cash rate target is 3.60 per cent, while the interest rate on Exchange Settlement balances is 3.50 per cent. The RBA’s decision to maintain these rates is expected to provide a degree of certainty and stability to the financial markets, sending a clear message to investors that the central bank is taking a cautious approach to monetary policy. Earlier, the bank raised the official cash rate by 0.25 percentage points following its monthly meeting in March , bringing it to 3.60 per cent. “The Board recognises that monetary