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Reserve Bank Leaves Rates on Hold

September 5th 2011

The Reserve Bank has left official interest rates on hold at 4.75 percent for the 10th straight month.

Picture: Brad Hunter

A survey of 25 economists by Bloomberg showed all of them expected today’s Reserve Bank board meeting to leave the cash rate at its current level.

Most analysts suggested the RBA would not raise rates while economic conditions in Europe and the United States were so volatile.

HSBC’s chief economist in Australia, Paul Bloxham, said before today’s announcement that although the RBA is keeping a close eye on domestic inflation, international volatility is a bigger concern.

Read more on the ABC Online website.

Source: ABC