Australia Leaves Rates at 4.75%, Citing Weakened Global Outlook

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The Reserve Bank of Australia ( RBA ) left its interest rate benchmark unchanged at 4.75% this morning, citing concerns of weakened international growth. Australia has left rates unchanged since last November and many economists had been hinting that a "wait-and-see" approach was in play among Australian policymakers.

Australia's economic growth outlook remains within its current uptrend, but RBA Governor Glenn Stevens noted that the trend may slump somewhat if international growth continues to get subdued. A less certain picture of what the next six months may entail has made Australia's, as well as a few other nations', central bank wary of hawkish policies.

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This article appears in: Investing , Forex and Currencies

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