FARMERS have been spared another rate rise with the Reserve Bank of Australia today leaving rates unchanged.
RBA governor Glenn Stevens said weakening world growth and sustainable gropwth and inflation in Australia meant there was no need to lift official cash rates this month.
He was speaking after the monthly meeting of the RBA board held this morning, which decided to leave the cash rate at 4.5 per cent.
It was the fourth month in a row that the RBA has left rates unchanged.
"The current setting of monetary policy is resulting in interest rates to borowers around their average levels of the past decade," Mr Stevens said in a statement.
"With growth in the near term likely to be close to trend, infl;ation close to target and with the global outlook remaining somehawt uncertain, the board judged this setting of monetary policy to be appropriate for the time being."
