RESERVE BANK LEAVES INTEREST RATE UNCHANGED AT 2 PER CENT

Wednesday, October 07, 2015
The Reserve Bank has left the official cash rate on hold at 2 per cent, in line with predictions.

In the statement accompanying the decision, Reserve Bank governor Glenn Stevens said the economy continues to grow "below longer-term averages" and so "monetary policy needs to be accommodative".

Overall, however, very little changed in the statement.

"Further information on economic and financial conditions to be received over the period ahead will inform the board's ongoing assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target," the governor concluded.

That is almost identical to September's statement, which read: "Further information on economic and financial conditions to be received over the period ahead will inform the board's ongoing assessment of the outlook".
 
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