Australia’s central bank reiterated the need for deeper currency declines to balance economic growth that’s predicted to remain below average until the latter part of 2016. “A lower exchange rate would have an immediate beneficial effect on some sectors such as tourism,” the Reserve Bank said in minutes of its June policy meeting in Sydney …
The Reserve Bank will keep a close watch on the economy in the coming months to assess whether more interest rate cuts are needed, as economic growth and business investment remains sluggish. The RBA cut the cash rate to a historic low of two per cent in May, before leaving rates on hold at its …
RBA Minutes: RBA to Keep Close Eye in Coming Months Read More »
Interest rates are expected to remain on hold for several months as the Reserve Bank keeps a close eye on a slowing economy, though the next move is still more likely to be a cut. The RBA has left the cash rate at two per cent following May’s quarter of a percentage point cut, and …
Australia left its key interest rate unchanged at a record low and was coy about whether further cuts would be needed to boost growth, sending the currency higher. Central bank Governor Glenn Stevens and his board left the cash rate at 2 percent in Sydney Tuesday, as predicted by traders and economists. “Monetary policy needs …
