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MARKET PULSE
July 6, 2010, 12:37 a.m. EDT · Recommend · Post:
Australia central bank stands pat, as expected
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by Michael Kitchen
LOS ANGELES (MarketWatch) -- The Reserve Bank of Australia kept its policy interest rate unchanged at 4.5% Tuesday, as widely expected, while saying global growth remains uneven. "Pending further information about international and local conditions for demand and prices, the [RBA policy] board views this setting of monetary policy as appropriate," said the bank's Gov. Glenn Stevens in a statement accompanying the decision. However, Stevens added that consumer inflation is likely to be in the upper half of the central bank's target range over the next year, and could breach 3% in the near term.
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