The Reserve Bank has revealed its decision to pause its aggressive interest-rate-hiking strategy was a close call, while warning that more hikes may be needed to tame inflation.
In the minutes from its April 4 meeting, where the cash rate was left at 3.6 per cent after 10 consecutive rate hikes, board members debated the case to impose another 0.25-percentage-point increase, noting that inflation "remained too high" with the labour market "very tight".
