RBA minutes: rates on hold as global downside risks rise
The Reserve Bank of Australia opted to leave the cash rate, its main policy instrument, unchanged at 4.75% in the wake of worsening economic and financial situations in Europe, notably Ireland, minutes released Monday showed.
"Members noted that the deterioration in the situation in Europe over the past month had increased the downside risks to the global economy," the minutes, from the central bank's policy meeting of 7 December, showed.
The minutes also showed policymakers uncertain over how
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