The Reserve Bank of Australia (RBA) has left official interest rates unchanged at 4.25 per cent at its board meeting on February 6, 2012.
RBA decision to keep the official cash rate on hold was a bit of surprise for financial markets as most experts predicted a 25 basis points cut. However RBA indicated that Europe risks are now skewed to the downside:
RBA also noted that interest rates for borrowers have declined to be close to their medium-term average, as a result of previous cuts, so the Board judged that the setting of monetary policy was appropriate for the moment.
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