Australia keeps rate at six-year high

Glenn Stevens, Governor of the Reserve Bank of Australia, announced on 6 June that the central bank would keep its benchmark interest rate unchanged for the sixth meeting in succession. Rates remain unchanged at a six-year high of 6.25%.

Economists and analysts had almost unanimously predicted that there would be no change. Three rate rises during 2006 has kept inflation in check, and the stable borrowing costs is likely to boost consumer confidence and encourage a housing recovery that coul

To continue reading...