Australia's central bank, the Reserve Bank of Australia (RBA), has decided to keep its official cash rate unchanged at 4.10%. This decision was in line with expectations, as economists were divided on whether there would be a rate hike or not. The RBA stated that inflation in the economy has "passed its peak," but further tightening of monetary policy may be necessary. The decision comes after a 25 basis points rate hike last month. The RBA will continue to monitor the state of the economy, global developments, household spending, and inflation forecasts.

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