Australian rates unchanged

The Reserve Bank of Australia yesterday left the overnight cash rate at 5.5%, following its first interest rate meeting of the year. Australia is in the midst of its most stable economic period in three decades, with only one change in monetary policy in the last 26 months.

Official data shows inflation was tracking at an annual pace of 2.8% in December, at the upper end of the central bank's 2% - 3% inflation target. However, with current forecasts showing that inflation will remain within th