Australia’s central bank says currency may extend slide, keeps easing bias

Tue, 02 Jul 2013

July 2 (BusinessDesk) – The Reserve Bank of Australia said its currency may extend a 10 percent slide since April as the bank maintained its easing bias and kept its benchmark cash rate unchanged at 2.75 percent. “The Australian dollar has depreciated by around 10 percent since early April, although it remains at a high level,” Governor Glenn Stevens said in a statement on the bank’s website. “It is possible that the exchange rate will depreciate further over time, which would help to foster a rebalancing of growth in the economy.” The Austr...

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