Australian central bank keeps easing bias in place, cites drop in mining spending

Tue, 01 Dec 2015

By Jonathan Underhill Dec. 1 (BusinessDesk) - The Reserve Bank of Australia kept the cash rate unchanged for a seventh straight month while retaining its easing bias, noting the economy was growing at a moderate pace, keeping inflation under control, in the face of a "large decline in capital spending" in the mining sector. Governor Glenn Stevens reiterated that the outlook for inflation "may afford scope for further easing of policy, should that be appropriate to lend support to demand". "Inflation is low and should remain so, with th...

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