The Reserve Bank of Australia (RBA) has maintained the country's benchmark rates at 4.25% considering an economic turnaround by the second half as a result of some structural changes especially the onset of the carbon price on inflation.

The RBA has announced on its official website that the board of directors decided to keep the rates unchanged "because of the expectation that the world economy will grow at a below-trend pace this year, but does not suggest that a deep downturn is occurring."

RBA governor Glenn Stevens pointed out the continuing growth of the U.S. economy and the weak outcomes of several European countries.

"Growth in China has moderated as was intended, but on most indicators remains quite robust overall," the RBA statement read by Governor Stevens indicated.

The RBA has also taken into consideration the changes in the Australian economy, which it said will generally record growth, but some sectors led by the softening of the labour market and intensifying unemployment had an impact by end 2011.

Ben Taylor, CMC Markets sales trader, said "the RBA held rates at 4.25% on Tuesday much to the expectation of our market. However while inflation appears to be falling, wages remain muted and the Aussie dollar fastens its self above parity many are calling for the RBA to lower rates to decrease our disparity between the two tiered economy."

He said that "China's confirmation that no one is immune from a slowdown in the developed world has hurt the Australian market today. The falls display our tight relationship with China and how reliant we are on China's smooth transition to sustained growth."

Some sectors have welcomed the retention of rates, the Real Estate Institute of Australia (REIA) president Ms Pamela Bennett said a rate cut this month would have been positive news for mortgage holders.

"A rate cut would have assisted those who are struggling with a mortgage and would have been the catalyst needed to encourage more first home buyers into the market," said Ms Bennett.

IG Markets strategist Stan Shamu said the rate hold extended the Aussie dollar's slide from this morning.

"AUD/USD printed a low of 1.06116, which is near its one-month low. The last paragraph of the statement was key and seems less hawkish than the recent statement of momentary policy, hence the weakness in the AUD/USD," Mr Shamu said.