Reserve Bank of Australia kept its interest rate unchanged at 2.50%

Market news

7 October 2014

Reserve Bank of Australia kept its interest rate unchanged at 2.50%

The Reserve Bank of Australia (RBA) released its interest rate decision today. The RBA kept its interest rate unchanged at 2.50%. Analysts had expected this decision.

The RBA Governor Glenn Stevens said that the Aussie remained "high by historical standards" despite the recent decrease. He also said that Australia's economy grew moderately and "labour market data have been unusually volatile".

Australia's central bank expects the economic growth to be below trend, so the RBA governor.

Stevens noted that wages growth fell "noticeably".

The central bank's monetary policy will remain accommodative, so Stevens.

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