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-Australia's RBA leaves cash rate steady.

Global Banking News-December 7, 2010--Australia's RBA leaves cash rate steady(C)2010 ENPublishing -

Global Banking News - 07 December 2010(c)2005 - Electronic News Publishing -

The Reserve Bank of Australia (RBA) has left its benchmark cash rate target unchanged at 4.75 percent, reports Dow Jones.

The central bank has raised the cash rate target seven times since October 2009, leading other central banks in tightening monetary policy. RBA governor Glenn Steven has said recently that interest rates were appropriate at the present.

The RBA is expected to hold the rates until well into 2011, subject to any emergence of inflationary pressures. Inflation is currently within the RBA's two percent-three percent target band but was expected to rise over the next few years, the report said.

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Date:Dec 7, 2010
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