Australia's central bank holds rates as expected, waters down tightening bias

Pedestrians walk past the Reserve Bank of Australia building in central Sydney. — Reuters

SYDNEY: Australia's central bank held interest rates steady on Tuesday and watered down its tightening bias, signalling greater confidence that inflation is moving back to its target as the economy slows.

Wrapping up its two-day March policy meeting, the Reserve Bank of Australia (RBA) kept rates at a 12-year high of 4.35% for a third straight meeting, and said it was not ruling anything in or out on policy.