Australia’s central bank kept interest rates unchanged as a global commodity upswing eases the impact of a weaker economy at home.
Governor Philip Lowe left the cash rate at 1.5 percent Tuesday, saying “some slowing in the year-ended growth rate is likely” while noting that higher resource export prices “are providing a boost to national income.” The decision was predicted by economists and traders heeding Lowe’s concern that further easing could destabilize an economy where households are already saddled with record debt.
