Tuesday, February 2, 2010

Australia doesn't hike rates

SYDNEY, Feb 2 (Reuters) - Australia's central bank kept rates steady at 3.75 percent on Tuesday, confounding expectations of a hike and hammering the local currency as investors slashed estimates for how high rates might go this year.

The Reserve Bank of Australia (RBA) surprised almost everyone by saying it wanted to judge the impact of its past three moves before lifting the cash rate further.
Take rising rates off the table!

Let 'er rip!

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