Reserve Bank of Australia keeps key rate at 2%, with scope for easing

Tue, 03 Nov 2015

By Jonathan Underhill Nov. 3 (BusinessDesk) - The Reserve Bank of Australia kept the cash rate unchanged at 2 percent while explicitly saying there was room to cut rates because inflation was likely to remain "low" and "a degree of spare capacity" would remain in the economy. "At today's meeting the board judged that the prospects for an improvement in economic conditions had firmed a little over recent months and that leaving the cash rate unchanged was appropriate at this meeting," governor Glenn Stevens said in a statement. "Members al...

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