RBA - No Interest Rate Rise for April 2011

The Reserve Bank Board met today, and as expected, decided to leave the cash rate unchanged at 4.75 per cent, no doubt bringing a sigh of relief to home mortgage holders. Governor Glenn Stevens said: "The global economy is continuing its expansion, led by very strong growth in the Asian region. The recent disaster in Japan is having a major impact on Japanese production, and some effects on production of manufactured products further afield. Commodity prices, including oil prices, have generally continued to rise over recent months, pushing up measures of consumer price inflation in many countries. A number of countries have been moving to tighten their monetary policy settings. Overall, though, financial conditions for the global economy remain accommodative"...