Added over 9 years ago

RBA keeps interest rate on hold

The Reserve Bank of Australia (RBA) has decided to leave interest rates on hold at 4.5 per cent for the month of October. Glenn Stevens, Governor of the RBA, cited sustainable growth in China, modest growth in Europe and the US and uncertainty in global financial markets as influencing factors. CPI inflation according to RBA estimates is running at around 2.75 per cent and within the medium term-target. The RBA did comment on an expectation of a rate rise in the near future to ensure inflation remains consistent if economic conditions evolve as expected.

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