RBA keeps rates on hold

The Reserve Bank has voted to keep interest rates on hold.

The Reserve Bank has voted to keep interest rates on hold at 4.75 per cent.

'On balance, the Board judged that it was prudent to maintain the current setting of monetary policy, particularly in view of the acute sense of uncertainty in global financial markets over recent weeks', Governor Glenn Stevens said in a statement.

'In future meetings, the Board will continue to assess carefully the evolving outlook for growth and inflation'

Full statement from the RBA here.

More to come...