Tuesday, May 3, 2011

Reserve Bank of Australia Holds Cash Rate at 4.75%

The Reserve Bank of Australia maintained the Cash Rate unchanged at 4.75% and said the "current mildly restrictive stance of monetary policy remained appropriate".  The Bank noted it "expects that, as the temporary price shocks dissipate over the coming quarters, CPI inflation will be close to target over the year ahead."  Australia reported consumer price inflation of 3.3% in Q1 2011, up from 2.7% in the December quarter of 2010.



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