The Reserve Bank Board has left official rates at 4.25 per cent. Last year the Reserve Bank cut rates at both the
November and December meetings, each by 25 basis points. The next meeting is on May 1 2012.
The Reserve Bank left the door open for a further rate cut. Policy makers acknowledged that “the pace of output
growth to be somewhat lower than earlier estimated” but felt it “prudent” to wait on the upcoming inflation data before easing monetary policy.