Australia's reserve bank holds rates steady again

The Reserve Bank of Australia held interest rates unchanged for the sixteenth month in a row it said Wednesday. The rate remained at 4.75 percent despite fears of a housing bubble.

Source: Pacific Business News

The Reserve Bank of Australia has decided to maintain interest rates where they are for the sixteenth straight month.

The Australia cash rate holds at 4.75 percent despite fears of a housing price bubble "down under" because, economists explain, global economic uncertainties offset that.