Reserve bank leaves interest rate on hold at 4.35% with borrowers left waiting for relief

RBA keeps cash rate steady amid stubborn inflation and an economy that has all but stalled

• Follow our Australia news live blog for latest updates
• Get our morning and afternoon news emails, free app or daily news podcast

Australia's borrowers have been given another reprieve, with the Reserve Bank leaving its key interest rate on hold for a fifth consecutive board meeting but retaining the option of a further rate hike if needed.

As expected by economists, the RBA held its cash rate unchanged at its 12-year high of 4.35% at the conclusion of a two-day meeting that wrapped up on Tuesday afternoon.