RBA keeps rate at 4.75%

ForexNewsNow | Published on July 5, 2011 at 7:25 am

Forex broker reviews

The Reserve Bank of Australia announced Tuesday that it would maintain its federal funds rate at 4.75% for the seventh time since last November.

The RBA cited slowing global economic growth due to the recent earthquake in Japan, continuing debt issues in Europe and rising commodity prices as the rationale for its decision.

The RBA has also estimated that growth in Australia was “unlikely to be as strong as originally expected.

After the RBA’s announcement, the Australian dollar fell from $ 1.0701 to 1.0677 vis-a-vis the greenback.

On Monday, Australian retail sales figures came out much lower than predicted with a 0.6% decrease leaving some question as to the strength of the Australian economy.



Sign up for our Newsletter

Top Forex Brokers

CySEC/FSA Regulated
$5 Min. Deposit
5 Trading Platforms
$2000 Deposit Bonus
No Commissions
Multilanguage Support
US traders accepted
Intuitive trading platform
Free no deposit bonus
Mobile trading

Binary Options Video