RBA minutes: rates on hold as temporary inflation effects dissipate
The Reserve Bank of Australia opted to leave the cash rate, its main policy instrument, unchanged at 4.75%, saying it would continue to look through temporary effects caused by extreme weather events, minutes released on Tuesday showed.
"Domestically, the recent extreme weather events were now being reflected in some measures of economic activity. The effects of Cyclone Yasi would also add to CPI inflation in the short run, but the effects were likely to be reversed later in the year," the
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