At its final meeting for the year, the board of the Reserve Bank of Australia has decided to leave interest rates on hold.
The cash rate remains at 2%, where it has been since May 2015.
Statement from Glenn Stevens, Governor of the Reserve Bank of Australia.
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 2.0 per cent.
The global economy is expanding at a moderate pace, with some softening in conditions in the Asian region, continuing US growth and a recovery in Europe. Key commodity prices are much lower than a year ago, reflecting increased supply, including from Australia, as well as weaker demand. Australia’s terms of trade are falling. [Read more…]