Interest rates kept on hold

Submitted 3/02/2010

Migration for Business Growth

 

The Reserve Bank has decided to leave interest rates on hold - for now. The RBA left its key cash rate unchanged at 3.75 per cent after its monthly board meeting.

RBA governor Glenn Stevens cited excessive hikes by major banks as one of the reasons for holding back. The market had been strongly tipping a quarter-percentage point rise - and the RBA's statement today suggests more rate rises in future.