Finally, an interest rate reprieve – but a ceasefire in the Middle East doesn’t have the RBA popping champagne yet

<p>Governor Michele Bullock delivers a strong message after the Reserve Bank holds the cash rate at 4.35%, ending a run of three rises</p><ul><li><p><a href="https://www.theguardian.com/australia-news/2026/jun/16/rba-interest-rate-announcement-decision-cash-rates-economy-unemployment-inflation">RBA interest rates: Reserve Bank holds official cash rate at 4.35%</a></p></li><li><p>Get our <a href="https://www.theguardian.com/email-newsletters?CMP=cvau_sfl">breaking news email</a>, <a href="https://app.adjust.com/w4u7jx3">free app</a> or <a href="https://www.theguardian.com/australia-news/series/full-story?CMP=cvau_sfl">daily news podcast</a></p></li></ul><p>It will take more than a ceasefire in the Middle East to prevent the Reserve Bank from hiking interest rates again.</p><p>That was the <a href="https://www.theguardian.com/australia-news/2026/jun/16/rba-interest-rate-announcement-decision-cash-rates-economy-unemployment-inflation">strong message from the RBA governor, Michele Bullock</a>, after the central bank held its cash rate at 4.35%, putting an end to a run of three increases.</p> <a href="https://www.theguardian.com/business/2026/jun/17/rba-meeting-interest-rates-hold-decision-iran-conflict-strait-of-hormuz-analysis">Continue reading...</a>