RESERVE BANK DECISION

CANBERRA, ACT, June 16 -- The Treasurer of Australia issued the following media release:

Today the Reserve Bank Monetary Policy Board held interest rates steady at 4.35percent.

This is a welcome reprieve for many Australians with a mortgage.

It's a reassuring result in the face of extreme volatility in the global economy.

At a time when conflict in the Middle East is adding to inflation and interest rates are rising in parts of the world, this is an encouraging outcome.

We know this won't make it easier for millions of Australians with a mortgage, but it won't make it any harder.

This is the first interest rates decision since the responsible Budget we handed down last month, which delivered substantial savings and improved the Budget...