Australia's RBA keeps key rate on hold at 3.5%
8/7/12 12:37 AM ET (MarketWatch)Print
SYDNEY (MarketWatch) -- The Reserve Bank of Australia kept its key cash rate on hold at 3.5% Tuesday, as widely expected. RBA Gov. Glenn Stevens said that "most indicators suggest growth close to trend overall." Stevens added: "with inflation expected to be consistent with the target and growth close to trend, but with a more subdued international outlook than was the case a few months ago, the stance of monetary policy remained appropriate."
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