Australia leaves rates unchanged at 4.75%

Source: New Zealand Herald

Australia's central bank held interest rates steady for a 12th consecutive month yesterday as tough export conditions conflicted with a robust local economy and high levels of consumer credit.

The official cash rate was left at 4.75 per cent, where it has stood since June last year.

The central bank's hands are expected to remain tied as a monetary easing could increase already worrying levels of consumer debt and house prices, and any tightening could boost the Aust