Reserve Bank of Australia keeps key rate at 3.5 percent, says global outlook ‘more subdued’

Tue, 07 Aug 2012

Aug. 7 (BusinessDesk) - The Reserve Bank of Australia kept its key interest rate unchanged at 3.5 percent, saying inflation remains “low” and the pace of the global economy has become more tepid. “With inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate,” Governor Glenn Stevens said in a statement on the central bank’s website. Figures last months showed consumer prices rose 0.5 perce...

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