05.04.201601:24:00UTC+00Australia leaves rate unchanged amid resurgent currency

The Reserve Bank of Australia retained its interest rates for 11th consecutive month even as the resurgent Australian dollar pushes the economy down.

RBA Governor Glenn Stevens left the cash rate unchanged at 2%. In March, the Aussie became the firmest currency among a Group of 10 currencies, rising more than 7%, which affects a transition from mining to services exports.

Figures showed the economy improved to 3% in the fourth quarter of 2015, while the unemployment rate dropped back to 5.8% following it climbed to 6% in January. Business conditions leaped as well, but retail sales have degenerated.