The Reserve Bank of Australia has left interests rates at 4.5%.
Whilst the monthly statement issued was similar to previous ones, it was noted that the addition of the words “for the time being” suggests that the central bank is probably looking at another rate rise in the near future.
The Reserve Bank Governor, Glenn Stevens provided a rosy outlook for both the Australian economy and the global recovery. He did, however, reiterate that the economic conditions in both Europe and the US were still of concern.
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