The Reserve Bank of Australia has left interest rates on hold for the eleventh month in a row.
The cash rate of 2.50% remains unchanged. It was last changed in August last year.
The Governor of the Bank, Glenn Stevens, said: “In the Board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target. On present indications, the most prudent course is likely to be a period of stability in interest rates.”
Statement from the Governor of the Reserve Bank, Glenn Stevens.
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy is continuing at a moderate pace, helped by firmer conditions in the advanced countries. China’s growth slowed a little earlier in the year but remains generally in line with policymakers’ objectives. Commodity prices in historical terms remain high, but some of those important to Australia have declined. [Read more...]