4 Jun 2014

Rates on hold in Australia

3:30 pm on 4 June 2014

The Australian Reserve Bank has left its official interest rate on hold at 2.5 percent for the tenth month in a row.

It follows a recent run of disappointing figures in house approvals, property prices and manufacturing data, and surveys indicating that a number of consumers and business are losing optimism.

Reserve Bank governor Glenn Stevens says it is still uncertain how much of the decline in mining investment can be replaced by the residential construction boom.