Tue 16 Jun 2026 at 2:37pmTue 16 Jun 2026 at 2:37pmThe decision to keep rates on hold was unanimous. (AAP: Bianca De Marchi)The Reserve Bank has kept interest rates on hold at 4.35 per cent, in a unanimous decision.The decision comes after recent data showed Australia's economy has lost momentum and that the unemployment rate has risen.But with underlying inflation still too high, the RBA has chosen to keep rates steady to see how the economy performs in the coming weeks.It means the official cash rate will remain at 4.35 per cent for two more months.The next meeting will be held on August 10-11.In a statement, RBA board members said the outlook for Australia's economic activity and inflation was uncertain and that they would keep a close eye on the global economy."Following the three increases in the cash rate target since the beginning of the year, financial conditions are now tighter than they were, and there are signs that the economy is slowing as expected," they said."But inflation is still too high and the board judged that it was appropriate to leave the cash rate target unchanged while it assesses the response to previous interest rate rises and the impact of the oil supply disruption."Resolution of the conflict in the Middle East is at an early stage, and there are plausible scenarios where inflation is higher and activity lower than envisaged under the May baseline forecasts."