The RBA's interest rate pause was a close call that could change as early as next month

 The Reserve Bank has revealed its decision to pause its aggressive interest-rate-hiking strategy was a close call, while warning that more hikes may be needed to tame inflation.

In the minutes from its April 4 meeting, where the cash rate was left at 3.6 per cent after 10 consecutive rate hikes, board members debated the case to impose another 0.25-percentage-point increase, noting that inflation "remained too high" with the labour market "very tight".

It was argued that forecasts for inflation not to return to the 2 to 3 per cent target band until mid-2025 were inconsistent with the board's mandate to tolerate a slower return to the zone.

Read More: https://www.abc.net.au/news/2023-04-18/reserve-bank-minutes-interest-rate-pause-close-call/102235534