RBA keeps cash rate at 2%, drops talk of 'necessary' currency decline

Tue, 04 Aug 2015

By Jonathan Underhill Aug. 4 (BusinessDesk) - The Reserve Bank of Australia kept its cash rate unchanged at a record low 2 percent for a third month, while dropping reference to its currency needing to decline further. The Australian dollar gained after the statement. Governor Glenn Stevens kept much of the previous month's language in his latest monetary policy decision statement, while adding that there had been "somewhat stronger growth of employment" and omitting reference to "stronger borrowing by businesses" that he used four weeks...

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