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Australia central bank leaves key rate unchanged at 7.25%

HONG KONG (MarketWatch) — The Reserve Bank of Australia Tuesday left a key short-term interest rate unchanged at 7.25%, citing “tentative evidence that growth in domestic demand is moderating” after recent rate hikes. Governor Glenn Stevens wrote in a statement business and consumer sentiment have softened in the early part of this year. He added inflation was likely to remain high in the March quarter, compared with the 2007-end data, but “overall tightening in financial conditions since the middle of 2007″ was working to foster demand growth moderation, which “will take pressure off inflation.” The RBA raised the cash rate target by a quarter percentage point at each of its two previous meetings in 2008.
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Original post by Forextvblog

This entry was posted on Monday, March 31st, 2008 at 10:53 pm and is filed under Daily Forex Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

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