The Reserve Bank’s decision to pause its record run of interest rate rises earlier this month was lineball, with the central bank board deciding it needed more information to determine “when and how much more” they would be lifted.
Minutes from the 4 April rates meeting, released on Tuesday, show the nine board members examined at length the case for another 25 basis-point increase. That would have made it 11 consecutive rate hikes and lifted the cash rate to 3.85%.
