THE RESERVE Bank of Australia board has decided to leave the cash rate unchanged at a record low of 2.5 per cent.
In a statement from today’s meeting, Governor Glenn Stevens says the decision was in line with global growth forecasts.
“Recent information is consistent with global growth running a bit below average this year, with reasonable prospects of a pick-up next year. Commodity prices have declined from their peaks, but generally remain at high levels by historical standards. Inflation in most countries remains well contained,” Mr Stevens says.