Bloomberg News

RBA Holds Key Rate at 4.75% for a Seventh Straight Meeting

July 05, 2011

July 5 (Bloomberg) -- The Reserve Bank of Australia left its benchmark interest rate unchanged today for a seventh straight meeting as signs of slower growth from Europe to China dimmed prospects for an acceleration in hiring at home.

Governor Glenn Stevens held the overnight cash rate target at 4.75 percent in Sydney, as forecast by all 28 economists surveyed by Bloomberg News. Before today’s announcement, interbank cash-rate futures showed traders bet there is no chance of an increase this year.

To contact the reporter on this story: Michael Heath in Sydney at mheath1@bloomberg.net

To contact the editor responsible for this story: Brendan Murray at brmurray@bloomberg.net


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