RBA: OCR steady at 4.25% with inflation close to target

By FXstreet.com,  February 06, 2012, 10:39:00 PM EDT

FXstreet.com (San Francisco) - The Reserve Bank of Australia ( RBA ) unexpectedly kept the Official Cash Rate (its benchmark interest rate) steady at 4.25% on Tuesday, versus the 25 basis point cut predicted by economists.

"With growth expected to be close to trend and inflation close to target, the Board judged that the setting of monetary policy was appropriate for the moment," the accompanying RBA statement read.

Governor Glynn Stevens and the board also noted in the statement that over the coming one to two years, the central bank expects inflation to be in the 2-3 per cent range, and, "Should demand conditions weaken materially, the inflation outlook would provide scope for easier monetary policy."




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Forex and Currencies

Referenced Stocks: RBA



Latest News Video

Man, Not Economy, in Crisis, Says Pope
Man, Not Economy, in Crisis, Says P...
Chileans March For Marijuana Legalisation
Chileans March For Marijuana Legali...


Sign-in
Existing NASDAQ.com member? Log in here.

By signing into to the site using any of the third-party services above, you agree to NASDAQ.com's Terms of Use.

From Our Trusted News Source





Most Active by Volume:

Company Last Sale Change Net / %
BAC $ 13.43 0.07  0.52%
CSCO $ 24.24 0.35  1.48%
MSFT $ 34.87 0.79  2.32%
F $ 15.08 0.44  3.01%
ARUN $ 13.10 4.51  25.61%
SIRI $ 3.50 0.05  1.45%
GE $ 23.46 0.19  0.82%
S $ 7.32 0.04  0.55%