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RBA Leaves Official Cash Rate Unchanged
At its meeting today, the Board decided to leave the cash rate
unchanged at 4.5 per cent.
Statement by Glenn Stevens,
Governor Monetary Policy RBA
The global economy grew
faster than trend over the year to mid 2010, but will probably ease
back to about trend pace over the coming year. Recent information is
consistent with a more sustainable, but still strong, pace of growth
in China and most of the Asian region. In Europe and the United
States, growth prospects appear to be modest in the near term, a
legacy of the financial crisis and its impact on private and public
finances. Financial markets are still characterised by a degree of
uncertainty, and are responding both to differences in growth
outlooks between regions and evident strains on public finances and
banking systems in several smaller countries in Europe. Most
commodity prices have changed little over recent months, and those
most important to Australia remain very high.
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