RBA holds rates steady as the housing market softens. But another hike is still possible

Ian Waldie/Getty Images The Reserve Bank of Australia has left the cash rate unchanged at 4.35% as it assesses whether the three interest rate rises delivered earlier this year are doing enough to slow the economy and bring inflation back under control. The RBA faces a difficult balancing act. Inflation remains too high and another rate rise is still possible. But there are clearer signs that higher interest rates are slowing growth, particularly in housing, consumer spending and the jobs…