The Reserve Bank has left its interest rate at a record low of two per cent for the second month in a row, but has left the door open for another rate cut.
RBA governor Glenn Stevens said in a statement that although the economy is growing at a below average pace, one good sign is that there are higher rates of borrowing.
"Credit is recording moderate growth overall, with stronger borrowing by businesses and growth in lending to the housing market broadly steady over recent months," he said.
Mr Stevens said that while the Australian dollar had fallen against the US dollar, it has dropped as much against other currencies.
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