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-RBA keeps rates steady on Melbourne Cup day.

Global Banking News-November 6, 2012--RBA keeps rates steady on Melbourne Cup day(C)2012 ENPublishing - http://www.enpublishing.co.uk

Global Banking News - 06 November 2012

The Reserve Bank of Australia has decided to keep its interest rate steady and said that it would remain at 3.25 percent.

The decision resulted in an increase in the Australian dollar to over USD1.04, where it had been trading at USD1.0369 before the announcement of the decision.

The New Zealand dollar dropped against the Australian currency after the announcement. An analyst said that the Australian dollar would definitely outperform the New Zealand currency unless the RBA announced a rate cut next month.

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Publication:Global Banking News (GBN)
Date:Nov 6, 2012
Words:133
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