RBA: Official Interest Rates Left Unchanged At 4.50%

Jun 01, 2010 - Boris Chan

At its meeting today, RBA decided to leave official interest rates unchanged at 4.5 per cent.

Rates were put on hold after 3 consecutive raises in a previous months as RBA believes that interest rates to borrowers are around their average levels of the past decade:

Interest rates to borrowers are around their average levels of the past decade, which is a significant adjustment from the very expansionary settings reached a year ago.

Concerns about worsening debt crisis in Greece and several other European countries and fear of renewed signs of global economic weakness also had a big impact on RBA decision. However global growth is still expected to be at about trend pace in 2010.

Most economists now expect that the RBA would not be making a change to official interest rates for a couple months in a row.

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