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December 5, 2007 - Forex Economic News
Australia holds rate steady. Will release statements with policy decisions.
The Reserve Bank of Australia held its interest rates steady at 6.75% citing inflation concerns, weak market sentiment and slowing global growth. Monetary Policy Governor Glenn Stevens stated that "sentiment in global credit markets has deteriorated recently" and "prospects for growth in the major economies appear to be weakening." With global uncertainty and being "concerned about the outlook for inflation", the RBA Board concluded that "the current stance of monetary policy should be maintained for the time being." The RBA also announced that it would now provide a statement explaining its policy decision each month with its rate announcements. Read the rate decision report here.
Tags: Governor Glenn Stevens, RBA, Reserve Bank of Australia--------- Blog index
