KEY POINTS:
Australia's central bank today left interest rates unchanged at 6.25 per cent, a decision widely expected in financial markets as a strong economy had yet to generate a pick-up in inflation.
Some economists had thought the central bank might decide on an early increase in rates before the Federal election campaign got into full swing.
But most were tipping a steady hand after the RBA Governor Glenn Stevens last month said lower-than-expected inflation afforded more time to assess trends in the economy.
The Reserve Bank of Australia, which held its monthly board meeting yesterday, does not comment on its reasoning when leaving interest rates unchanged.
In New Zealand, our Reserve Bank last month set the Official Cash Rate (OCR) at 8 per cent, the third successive rate rise inflicted on the country by the central bank in Wellington.
New Zealand's next OCR statement is due on Thursday July 26.
- REUTERS
