Australian central bank keeps rate cut up sleeve, sees more stable global economy

Tue, 05 Mar 2013

March 5 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected, while saying it has room to ease further if needed in the face of tame inflation and noting more stability in the global economy. “The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support demand,” Governor Glenn Stevens said in a statement. Inflation is consistent with the bank’s medium-term target of about 2.25 percent, he said. A softening labour market and busin...

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