Australia’s central bank keeps key rate at 3 percent , sees scope for cut

Tue, 05 Feb 2013

Feb. 5 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected and said it sees room to cut interest rates if needed as inflation remains low. “With inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is appropriate,” Governor Glenn Stevens said in a statement. “The inflation outlook, as assessed at present, would afford scope to ease policy further, should that be necessary to support...

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