Rates stay on hold at 2.75 per cent

THE Reserve Bank has left the door open for future rate cuts but decided to leave the cash rate on hold at 2.75% at its June meeting.

RBA Governor Glenn Stevens said in a statement rate cuts during the past 18 months were having the desired effect and predicted it would continue.

Mr Stevens said borrowing remained "relatively subdued", although there were encouraging signs of increased demand for finance.

He noted the Australian dollar had weakened since the May RBA meeting, although it remained high, and predicted growth would increase "over time" in line with inflation targets.

"It decided that the stance of monetary policy remained appropriate for the time being.

The board also judged that the inflation outlook, as currently assessed, may provide some scope for further easing, should that be required to support demand," Mr Stevens' statement read.

Almost every mainstream economist had predicted there would be no change to the cash rate after the RBA's surprise 25 basis point cut last month.



MAFS groom spotted at local AFL game

premium_icon MAFS groom spotted at local AFL game

'I've been spotted everywhere, it's insane.'

What will happen this season in the Wide Bay Premier League

premium_icon What will happen this season in the Wide Bay Premier League

Welcome to the new season of the Wide Bay Premier League

Science knows no gender for drone-flying Hervey Bay students

premium_icon Science knows no gender for drone-flying Hervey Bay students

The program teaches female school students about geospatial science