The Reserve Bank of Australia has announced today its minutes of the Bank's meeting that held in December, where the RBA decided to leave the benchmark interest rates unchanged at 4.75% for a second month in a row during the next month.

Moreover, the Bank has pointed that the conditions in financial markets over the past month were determined by the financial position in Europe, and it also indicated that the financial crisis initially on Ireland, but with the passage of time the crisis has spread too many European countries. The Governor and his Board saw the global growth will witness slow growth by the starting of the New Year, as European financial crisis is continuing to expand during next year.