Reuters
The Reserve Bank of Australia will keep its key interest rate unchanged at 4.35% on Tuesday and a rate cut is now not expected to happen until the fourth quarter of next year due to a strong housing market, according to a Reuters poll. Even with rates at a 12-year high, Australian home prices have recovered all of their 2022 losses since finding a floor in January. The interest rate poll, conducted Nov. 29-Dec. 1, showed 28 of 30 economists, including those at Australia's big four banks, expect the central bank will keep its official cash rate on hold on Dec. 5.