By CentralBankNews.info
Australia’s central bank held its benchmark cash rate steady at 2.50 percent, as expected, and expects to maintain the rate at the current level for a while.
“In the board’s judgement, monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target,” the Reserve Bank of Australia (RBA) said in a statement quoting its governor, Glenn Stevens.
“On present indications, the most prudent course is likely to be a period of stability in interest rates,” he added.
