SYDNEY: Australia's central bank Tuesday left interest rates on hold at 4.75 percent, saying global economic conditions were unsettled and the near-term growth outlook appeared to have softened.
"At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 percent," Reserve Bank of Australia (RBA) governor Glenn Stevens said in a statement.
The rate has remained unchanged since November.
Stevens said there was little evidence available to gauge the impact of European and US problems on other regions.
But he said: "Overall, the near-term growth outlook continues to look somewhat weaker than was expected a few months ago.
"Beyond the near-term, growth is still likely to be at trend or higher, unless the world economic outlook continues to deteriorate."
Copyright AFP (Agence France-Presse), 2011
Comments
Comments are closed for this article.