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The Reserve Bank of Australia left its benchmark interest rate unchanged today for a fifth straight meeting as a record local dollar contains prices in an economy benefiting from the biggest trade windfall in 60 years.

“The rising exchange rate will be helping to hold down prices for some consumer products over the coming few quarters,” central bank Governor Glenn Stevens said in a statement today after holding the overnight cash rate target at 4.75 percent, as forecast by 21 of 22 economists surveyed by Bloomberg News. “Over the longer term, inflation can be expected to increase somewhat if economic conditions evolve broadly as expected.”

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