Afternoon Update: RBA keeps cash rate on hold; female jockey’s Melbourne Cup win; and the forgotten republic of Transnistria

An aerial view of the Ballarat suburb of Winter Valley. The Reserve Bank has held the official interest rate at 3.6%. Photograph: Stuart Walmsley/The Guardian

Good afternoon.

The Reserve Bank has held the official interest rate at 3.6% in a move widely expected by economists and banks. The central bank’s board did not raise the prospect of future cuts in its statement, with the RBA governor, Michele Bullock, saying unexpected jumps in employment and inflation made the board “a little bit cautious”.