It means rates will remain at this level for another six weeks, until the RBA Board's next meeting in mid-June.
"The Board will rely upon the data and the evolving assessment of risks. In doing so, it will continue to pay close attention to developments in the global economy, trends in domestic demand, and the outlook for inflation and the labour market.In recent weeks, some economists and market commentators had been pressuring the RBA Board to lift rates, arguing recent upside-surprises in inflation could keep inflation higher for longer.
"Australian households are struggling and retail conditions are dire," Callam Pickering, APAC economist at global job site Indeed, warned last week.
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