The Reserve Bank of Australia has left interest rates unchanged, following its board meeting today.
The cash rate stays at 2.5%, where it has been since August last year.
Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.
At its meeting today, the Board decided to leave the cash rate unchanged at 2.5 per cent.
Growth in the global economy was a bit below trend in 2013, but there are reasonable prospects of a pick-up this year. The United States economy, while affected by adverse weather, continues its expansion and the euro area has begun a recovery from recession, albeit a fragile one. Japan has recorded a significant pick-up in growth, while China’s growth remains in line with policymakers’ objectives. Commodity prices have declined from their peaks but in historical terms remain high.