Australia's central bank held interest rates steady on Tuesday even as wild swings in global markets, deepening unease over China's economy and a fresh outbreak of easing abroad suggests risks are for a further cut going forward.
The Reserve Bank of Australia (RBA) did leave the door open to a move after its first policy meeting of the year, saying that a background of subdued inflation meant there was scope for a reduction if needed to support the economy.
The Board specifically noted that coming data would allow it to better judge if turmoil in financial markets truly augured tougher times for the global economy, and whether recent strength in employment at home would prove long lasting.
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The Reserve Bank of Australia (RBA) did leave the door open to a move after its first policy meeting of the year, saying that a background of subdued inflation meant there was scope for a reduction if needed to support the economy.
The Board specifically noted that coming data would allow it to better judge if turmoil in financial markets truly augured tougher times for the global economy, and whether recent strength in employment at home would prove long lasting.
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