RBA holds interest rates at 1.75 per cent

The Reserve Bank has held the cash rate steady at 1.75 per cent amid uncertainty about the Brexit vote and low inflation.

The Reserve Bank of Australia in Sydney, Tuesday, March 2, 2016. The Reserve Bank of Australia is expected to leave interest rates on hold today. (AAP Image/Dean Lewins) — (AAP Image/Dean Lewins) Source: AAP

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Published 5 July 2016 2:55pm

Updated 28 July 2016 4:04pm

Source: AAP

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The Reserve Bank has held the cash rate at a record low of 1.75 per cent.

RBA governor Glenn Stevens said given weak domestic inflation, the ongoing transition away from mining and recent market volatility following the Brexit vote it was "prudent" to hold rates in July.

"Further information should allow the Board to refine its assessment of the outlook for growth and inflation and to make any adjustment to the stance of policy that may be appropriate," Mr Stevens said in a statement.