Australia’s central bank unexpectedly kept interest rates unchanged as two cuts late last year help the economy weather Europe’s debt crisis. The nation’s currency soared to a six-month high while stocks declined. “Much remains to be done to put European sovereigns and banks on a sound footing, but some progress has been made,” Reserve Bank Governor Glenn Stevens said in a statement announcing the official cash rate target will stay at 4.25 percent. “Financial market sentiment, though remaining skittish, has generally improved since early December.” Stevens’s first rate decision of the year reflects confidence the ... (full story)