Australian central bank drops reference to ‘policy adjustments,’ signals steady rates

Tue, 04 Feb 2014

Feb. 4 (BusinessDesk) – The Reserve Bank of Australia kept its benchmark interest rate at a record low 2.5 percent and dropped its reference to policy adjustments in favour of stability, a move seen as code for an end to its easing bias that sent its currency up about 1 US cent. “Monetary policy is appropriately configured to foster sustainable growth in demand and inflation outcomes consistent with the target,” Governor Glenn Stevens said in a statement. “On present indications, the most prudent course is likely to be a period of stability i...

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