Australia's Central Bank Leaves Cash Rate Unchanged
2011-10-04 10:30:39
Australia's central bank on Tuesday decided to leave the benchmark cash rate unchanged at 4.75 percent again, citing weaker domestic growth outlook.
The Reserve Bank of Australia also said that an improved inflation outlook would increase the scope for monetary policy to provide some support to demand, should that prove necessary.
The Monetary Policy Board judged that the current cash rate remained appropriate and said that it will continue to assess carefully the evolving outlook for growth and inflation.
Indications are that the pace of near-term growth is unlikely to be as strong as earlier expected, due both to local and global factors, including the financial turmoil and related effects on business confidence, the board said.