The Reserve Bank of Australia held the cash rate unchanged at 4.75%, "judging that the current mildly restrictive stance of monetary policy remained appropriate in view of the general macroeconomic outlook". The Bank noted in its monetary policy media release that "Inflation is consistent with the medium-term objective of monetary policy [inflation target of 2-3%], having declined significantly from its peak in 2008."
www.CentralBankNews.info
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