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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. Growth in China is
moderating to a more sustainable rate as policies are now less
accommodating. Similar adjustments to policies and growth rates are
occurring in other countries in the Asian region. In Europe, output
has improved significantly so far this year, but prospects for next
year are probably for slower growth given planned fiscal
contraction. US growth was solid in the first half of 2010 but the
pace of expansion in the second half of the year is looking weaker.
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