RBA Holds Key Rate as Bullock Says Board Doesn’t Have a Bias

Australia’s central bank held its key interest rate steady in a widely anticipated decision, while Governor Michele Bullock signaled a combination of lingering inflation pressures and a steady job market raised the bar to further easing.

The Reserve Bank’s board held its cash rate at 3.6% on Tuesday and re-affirmed that future moves will be guided by incoming data after consumer prices surged beyond expectations last quarter. The decision was taken unanimously by the nine-member board, according to a statement.