Reserve Bank Of Australia Leaves Cash Rate Unchanged At 6.5%

Oct 3, 2007 - The Reserve Bank of Australia has left its key cash rate unchanged at 6.5 percent.

The stable rate comes as widely expected by economists. The cash rate is the interest rate charged to the overnight money market.

Economists expect the central bank keep rates unchanged until its November board meeting when it will have September-quarter inflation figures to take into consideration.

The Reserve Bank will publish its own underlying inflation figures on October 24, which most accurately reflect whether inflation is within its target range of 2-3 per cent.

If inflation exceeds the top end of the target, the central bank is expected to change rates in November, regardless of the federal election, which generally expected to be held next month.