3 Aug 2010

RBA leaves cash rate unchanged

8:20 pm on 3 August 2010

Australia's Reserve Bank has left the cash rate unchanged for the third consecutive month at 4.5%.

The central bank had raised rates six times in eight months to get home loans rates back around what it describes as average levels.

The major banks' standard variable mortgage rates will remain between 7.24% and 7.51% per annum if they follow the RBA's lead by staying on hold, the ABC reports.

Many economists now expect rates to stay on hold until at least November, after the next official inflation figures are released.