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RBA Leaves Official Cash Rate Unchanged
At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent.
Statement by Glenn Stevens, Governor Monetary Policy RBA
The global economy is continuing its expansion, but the pace of growth slowed in the June quarter. The supply-chain disruptions from the Japanese earthquake and the dampening effects of high commodity prices on income and spending in major countries both contributed to the slowing. It is still not clear how persistent this slower growth will be. The supply-chain disruptions are now gradually abating and commodity prices have softened of late, though they generally remain high. In China most indications suggest only a mild slowdown so far.
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