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# Australia's RBA Holds Cash Rate at 4.10% Amid US Tariff Uncertainty
- URL: https://www.theglobalbanker.com/australia-rba-holds-cash-rate-4-10-percent-us-tariff-uncertainty/
- Published: 2025-04-01T11:29:00.000Z
- Updated: 2026-10-28T10:38:57.000Z
- Description: The Reserve Bank of Australia kept its cash rate at 4.10% at its April 2025 meeting, pausing after its first cut and citing US tariffs as a source of uncertainty.
- Author: TGB Editorial Team
- Tags: Central Banks, Asia-Pacific, #archive

The Reserve Bank of Australia left its cash rate unchanged at 4.10% at its April 2025 policy meeting, opting to pause after delivering its first reduction in the current cycle at its previous gathering. The board said underlying inflation continued to ease in line with its February forecasts, but that it needed to be confident this progress would continue and was cautious about the outlook. 

The board said uncertainty about the outlook abroad remained significant, and that recent US tariff announcements were having an impact on confidence globally. The board said it would pay close attention to developments in the global economy and financial markets.

#### PAUSING AFTER THE FIRST EASING STEP

The hold follows the RBA's decision to cut the cash rate at its February 2025 meeting. The board said it would pay close attention to the global economy, domestic demand, and the outlook for inflation and the labour market. 

Measures of labour underutilisation remained relatively low, while wage pressures had eased a little more than expected but productivity growth had not picked up and unit labour cost growth remained high. The board said private domestic demand appeared to be recovering and real household incomes had picked up. The board said it would rely upon the data and the evolving assessment of risks to guide its decisions.

#### GLOBAL TRADE POLICY

The board said recent US tariff announcements were affecting confidence globally, and that these and geopolitical developments were expected to have an adverse effect on global activity, while inflation could move in either direction.