RBA leaves Cash Rate at 4.75%

RBA leaves Cash Rate at 4.75%


At its meeting today, the RBA decided to leave the cash rate unchanged at 4.75 per cent

At today’s meeting, the Reserve Bank judged that the current mildly restrictive stance of monetary policy remained appropriate. In future meetings, the Board will continue to assess carefully the evolving outlook for growth and inflation.

The last rate rise was in Nov 2010. The RBA’s decision matched expectations by the overwhelming majority of analysts and investors.

The commentary about the strength of the dollar prompted some selling of the currency, sending it briefly below the 109 US-cent mark from 109.2 US cents just prior to the announcement.

RBA Governor Glenn Stevens indicated that the stronger Australian dollar is helping to keep a lid on prices. The currency has rocketed against the greenback, rising about 6 per cent in the past month alone.