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RBA Leaves Official Cash Rate Unchanged
At its meeting today, the Board decided to leave the cash rate unchanged at 3.0 per cent.
Statement by Glenn Stevens, Governor Monetary Policy RBA
With considerable economic stimulus in train around the world, the global economy is stabilising after an earlier sharp contraction in demand. Downside risks to the global outlook have diminished, though they have not disappeared and most observers expect only modest growth overall. There is tentative evidence that the US economy is approaching a turning point, but conditions in Europe are still weakening. Growth in China, in contrast, has been very strong in recent months, which is having an impact on other economies in the region and on commodity markets.
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