Biz Byte: OCR steady at 1.0 percent

The official cash rate (OCR) was kept steady at 1.0 percent, as the monetary policy committee, which now sets the cash rate, decided that there was no major change in the outlook since the surprise 0.5 percent cut in August. "Economic developments since the August Statement do not warrant a change to the already stimulatory monetary setting at this time," the committee said in a statement.