The Reserve Bank of Australia has today announced that it will leave the official cash rate on hold at 7.25 per cent. This move was what all major economists were expecting. Economists now say that further signs that the economy is slowing is shown in the unexpected fall in the job market, which has allowed the central bank to sit tight on rates. The RBA raised rates four times between August 2007 and March 2008 as underlying inflation soared to record 16 year high.