Australia central bank keeps rates at 4.75 pct

SYDNEY Tue May 3, 2011 12:36am EDT

SYDNEY May 3 (Reuters) - Australia's central bank on Tuesday kept its main cash rate steady at 4.75 percent in a widely expected decision, though risks are growing it will have to move later in the year to keep inflation restrained amid a massive trade and mining boom.

The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. For text of the statement see: [ID:nEMS51RNA1]

(Reporting by Wayne Cole; Editing by Balazs Koranyi)