RBA interest rates: Reserve Bank holds cash rate at 4.35% as house prices continue to fall

In a widely expected decision, the Reserve Bank of Australia holds interest rate after three consecutive hikes

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The Reserve Bank has held the cash rate at 4.35% in a widely expected decision despite persistent worries about elevated inflation.

The announcement comes amid a steep decline in property prices in Sydney and Melbourne after three rate hikes earlier this year and major reforms to investor taxes.