Investing.com – The Reserve Bank of Australia kept its benchmark interest rate unchanged in April, it announced on Tuesday.
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.75%, broadly in line with expectations.
In its accompanying rate statement the RBA said, “Commodity prices, including oil prices, have risen over recent months, pushing up measures of consumer price inflation in many countries. A number of countries have been moving to tighten their monetary policy settings. Overall, though, financial conditions for the global economy remain accommodative.”
The statement added that the board judged that the current mildly restrictive stance of monetary policy remained appropriate in view of the general macroeconomic outlook.
Following the decision, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.27% to hit 1.0334.
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.75%, broadly in line with expectations.
In its accompanying rate statement the RBA said, “Commodity prices, including oil prices, have risen over recent months, pushing up measures of consumer price inflation in many countries. A number of countries have been moving to tighten their monetary policy settings. Overall, though, financial conditions for the global economy remain accommodative.”
The statement added that the board judged that the current mildly restrictive stance of monetary policy remained appropriate in view of the general macroeconomic outlook.
Following the decision, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.27% to hit 1.0334.