Australian central bank keeps rate at 2.5 percent , drops reference to room to cut more

Tue, 03 Sep 2013

Sept. 3 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 2.5 percent, as expected, while dropping a reference in previous statements that benign inflation gave it room to cut rates to stoke the economy. The Australian dollar gained after the statement. “At today’s meeting, the board judged that the setting of monetary policy remained appropriate,” governor Glenn Stevens said in a statement. “The board will continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflat...

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