The Reserve Bank of Australia has chosen to hold the interest rate, in its second decision of 2024.
The RBA board met on Tuesday, announcing the cash rate will remain at 4.35 per cent.
It is the third meeting in a row at which the board has decided to hold the rate.
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Economists broadly predict the next move will be down, although they do not predict exactly when this will occur.
The Organisation for Economic Co-operation and Development previously urged countries to wait until inflationary pressures are “durably contained” before cutting interest rates.
The big four banks have previously said they expected interest rates to start dropping later this year, although there are now concerns Tuesday’s decision may lead to a delay.
Experts and economists have predicted that rates will not go down until 2025, according to a recent survey by Finder.
