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Reserve Bank of Australia leaves interest rate unchanged

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Forexpros - The Reserve Bank of Australia kept its benchmark interest rate unchanged for the eighth straight meeting in August, 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 that it judged it was prudent to maintain the current setting of monetary policy, "particularly in view of the acute sense of uncertainty in global financial markets over recent weeks".

The statement added that, "In future meetings, the Board will continue to assess carefully the evolving outlook for growth and inflation."

Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.62% to trade at 1.0903.

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

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