Australia’s central bank cuts key rate to 2.5 percent , matching RBNZ

Tue, 06 Aug 2013

By Jonathan Underhill Aug 6 (BusinessDesk) – The Reserve Bank of Australia cut its cash rate by a quarter point to 2.5 percent as expected, matching its New Zealand counterpart’s official cash rate for the first time in more than four years and lifting the relative appeal of the kiwi. The RBA made good on its observation in recent statements that inflation in Australia is benign enough to allow it to stimulate an economy that is growing below trend. “The board has previously noted that the inflation outlook could provide some scope to ease p...

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