RBA meeting April 2011: Rates Unchanged at 4.75%

As widely expected, the Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.75 per cent at its board meeting on April 5, 2011.

The decision to keep the official cash rate on hold today met the expectation of financial markets and the Press Release following RBA Meeting almost identical to last month's:

  • Financial conditions for the global economy remain accommodative;
  • Australia's terms of trade are at their highest level, but household sector continues to save,
  • Overall credit growth in Australia remains quite subdued,
  • Growth in employment has moderated over recent months and the unemployment rate has held steady at 5 per cent;
  • Inflation is consistent and within 2-3 per cent target.

So the Board judged that the current mildly restrictive stance of monetary policy remained appropriate in view of the general macroeconomic outlook.

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Published on April 4-th, 2011 in Home Loans
Damon Rasheed is the CEO of Rate Detective, an Australian financial service comparison sites specialising in Life Insurance, Income Protection Insurance and home loans. Damon holds a Master's Degree in Economics from the University of Melbourne and has been involved in many start-up internet businesses.
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