Reserve Bank of Australia Governor Glenn Stevens has put the financial markets on notice that he’s likely to raise interest rates. Not this year, according to the bond markets. Stevens will leave the cash-rate target at 4.75 percent tomorrow, matching his longest pause since taking charge in 2006, and is likely to keep borrowing costs unchanged for a year, money-market futures show. While economists also expect the RBA to hold interest rates this month, they forecast the benchmark will reach 5.25 percent by year-end, according to the median estimate of 27 analysts surveyed by Bloomberg News. Stevens said June 15 ... (full story)