RBA continue to leave rates at 3%
2 June 2009
At its meeting today, the Australian central bank decided to leave the cash rate unchanged at 3.0 per cent. They added that evidence has continued to emerge that the global economy is stabilising and that they see inflation to continue to abate over the next two years. On this basis, the RBA said they still have scope to ease further if needed but remain reserved as the full effects of past easing has yet to be felt. The Board will continue to monitor how economic and financial conditions unfold, and how they impinge on prospects for a sustainable recovery in economic activity.