Investing.com – The Reserve Bank of Australia decided to keep its benchmark interest rate unchanged for the fourth consecutive month in September, it announced on Tuesday.
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.50% in September, in line with expectations.
Commenting on the decision, RBA Governor Glenn Stevens said, "With growth in the near term likely to be close to trend, inflation close to target and with the global outlook remaining somewhat uncertain, the Board judged this setting of monetary policy to be appropriate for the time being."
Governor Stevens added that while “The global economy grew faster than trend over the year to mid 2010, it will probably ease back to about trend pace over the coming year.”
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.50% in September, in line with expectations.
Commenting on the decision, RBA Governor Glenn Stevens said, "With growth in the near term likely to be close to trend, inflation close to target and with the global outlook remaining somewhat uncertain, the Board judged this setting of monetary policy to be appropriate for the time being."
Governor Stevens added that while “The global economy grew faster than trend over the year to mid 2010, it will probably ease back to about trend pace over the coming year.”