Forexpros – The Reserve Bank of Australia kept its benchmark interest rate unchanged for the ninth straight meeting in September, it announced on Tuesday.
In a statement, the RBA said it was keeping its benchmark interest rate unchanged at 4.75%, broadly in line with expectations.
In its accompanying rate statement, the RBA said it judged that it was prudent to maintain the current stance of monetary policy, citing the uncertain global outlook.
“Conditions in global financial markets have been very unsettled over recent weeks, as participants have confronted uncertainty about both the resolution of sovereign debt problems and the prospects for economic growth in Europe and the United States.”
The statement added that, “In future meetings, the Board will continue to assess carefully the evolving outlook for growth and inflation.”
Following the release of the data, the Australian dollar was down against its U.S. counterpart, with AUD/USD shedding 0.29% to hit 1.0520.
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