The monetary policy makers of the Reserve Bank of Australia and the Governor Glenn Stevens, they decided to wait and see approach in keeping the interest rate unchanged this month, as a result of the European financial markets results during this month. Also the RBA indicated that the growth likely to be around trend.

Moreover, Mr. Stevens kept the overnight cash rate unchanged at 4.5% in June to gauge the fallout from debt European crisis, while this decision came after increasing the benchmark rate in May for the six straight meetings.