RBA holds rate as global growth softens


Glenn Stevens, the governor of the Reserve Bank of Australia, today (September 4) announced the monetary policy board had decided to leave the benchmark interest rate unchanged at 3.5%.

The governor indicated that international pressures had influenced the decision. "Having picked up in the early months of 2012, growth in the world economy has since softened," Stevens said. "Current assessments are that global GDP will grow at no more than average pace in 2012, with risks to the outlook still on

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