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Australia's central bank keeps rates unchanged at 1.5 percent

  • Australia's central bank kept its benchmark rate unchanged at 1.5 percent
  • The Reserve Bank of Australia has maintained cash rate at that historic low level since August 2016
Flag of Australia on a beach
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Flag of Australia on a beach

Australia's central bank said Tuesday it is keeping the benchmark cash rate unchanged at 1.5 percent, a widely expected decision given policy makers have signaled a steady outlook for some time to come.

The Reserve Bank of Australia has maintained the cash rate at that historic low level since August 2016. A Reuters poll of 42 analysts had found all but one expected a steady outcome this week.