Australia’s central bank keeps rates on hold, ‘uncomfortably high’ currency falls after statement

Tue, 05 Nov 2013

Nov. 5 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged as expected while noting that its currency is “uncomfortably high”. The Australian dollar fell against the greenback and the kiwi after the statement. Governor Glenn Stevens delivered a statement broadly similar to his announcement on Oct. 1 while noting changes overseas and in the domestic economy and giving added emphasis to the strong Australian dollar. “The Australian dollar, while below its level earlier in the year, is still uncomfortably high,” Stevens...

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