Australia Central Bank Holds Rates at 4.1% for Fourth Month

AUSTRALIA - SYDNEY. Australia's central bank held interest rates steady on Tuesday for a fourth month, but again warned that further tightening might be needed to bring inflation to heel in a reasonable timeframe.

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Wrapping up its October policy meeting, the Reserve Bank of Australia (RBA) held rates at 4.10% and said recent data were consistent with inflation returning to its 2–3 percent target over time with output and employment still growing.

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Markets had wagered heavily on a steady outcome this month, though there is still some chance of a hike in November depending on how inflation progresses over the third quarter.