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Despite continued strong economic growth, the Reserve Bank of Australia (RBA) has left interest rates unchanged.
The decision did not come as a surprise for many leading economists. Uncertainty over the potential damage of the current global credit crisis is suggested as an influencing factor in the decision to leave rates put.
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The RBA upped rates 25 basis points last month to its current level of 6.50 per cent – the highest level in 11 years – following a spike in inflation in the three months to June. It was the ninth rate rise since 2002.
