RBA kept the benchmark interest rate at 4.75%

By @ibtimes on

Australian Monetary Policy Makers, led by the governor of the Reserve bank of Australia Mr. Glenn Stevens, kept the interest rate unchanged at 4.75% during the month of May to meet analysts' expectations, while the Bank sees the global expansion led by strong Asia growth.

On the other hand, the Reserve Bank of Australia noted that higher currency value supporting the economy to hold down prices at secure area during the first three month of the year, also the Bank said that the RBA: private investment is picking up, mainly in resources.

Moreover, the RBA indicated that the lower coal output likely caused decline in the first quarter of real GDP, along with household sector continues to see caution in spending.

The Australian dollar hasn't much affected by the Bank's decision about the rates, while it trades versus its major counterpart the greenback at 1.0898, and trades against the yen at 88.23.

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