CANBERRA, ACT, Aug. 11 -- The Treasurer of Australia issued the following media release:
Today the Reserve Bank's Monetary Policy Board held interest rates steady at 4.35percent.
This will come as a relief to Australians with a mortgage.
It's a welcome decision at a time of heightened uncertainty in the world and persistent pressures at home.
This is the second rates decision since the Budget and on both occasions, we've seen rates held steady.
This decision reflects the fact that inflation has been coming in well under the Reserve Bank and Treasury forecasts.
In the RBA's Statement on Monetary Policy, they have downgraded forecasts for underlying inflation and upgraded growth.
In June, headline inflation fell again and trimmed mean ...