Australian dollar above 'fundamental value', RBA sees slack in labour market

Tue, 02 Sep 2014

By Jonathan Underhill Sept. 2 (BusinessDesk) - The Reserve Bank of Australia strengthened its language on the Australian dollar, saying the currency was high relative to fundamental value, while at the same time sounding more upbeat about the local economy. The RBA kept the cash rate unchanged at 2.5 percent and continued to say a "period of stability" in interest rates was warranted given the outlook for inflation. On the Australian dollar, governor Glenn Stevens said it "remains above most estimates of its fundamental value," especia...

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