RDG: The RBA holds rates, interesting that banks are having a tougher time with credit markets, and our economy is turning into a three speed one, mining flat-out, some services, ok, everything else: hurting. Today’s RBA statement seems like a never-ending story of “ifs”. If the global economy does ok, we will do ok, if the coal mines get cleaned up, we will do better. I will post some more commentary on the housing market in the near future, this has been a good area to follow both media and Government “statements”.
Statement by Glenn Stevens, Governor: Monetary Policy Decision
At its meeting today, the Board decided to leave the cash rate unchanged at 4.75 per cent.