Australia central bank holds rates at 3.25 pct

SYDNEY Mon Nov 5, 2012 10:36pm EST

SYDNEY Nov 6 (Reuters) - Australia's central bank kept its main cash rate steady at 3.25 percent on Tuesday, surprising some in markets who had looked for a cut given an uncertain global outlook, a high local dollar and lower export prices.

The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. Most analysts had felt the RBA would cut rates to 3.0 percent, though markets had put the odds at less than 50-50.

For text of the statement see:

Comments (0)
This discussion is now closed. We welcome comments on our articles for a limited period after their publication.