Reserve Bank of Australia keeps key rate at 2.5 percent in almost carbon copy statement

Tue, 03 Dec 2013

Dec. 3 (BusinessDesk) – The Reserve Bank of Australia kept its benchmark cash rate unchanged at 2.5 percent, as expected, in a statement almost unchanged from a month ago, reiterating economic growth has been below trend and inflation will likely remain contained. Governor Glenn Stevens also reiterated that the Australian dollar is “uncomfortably high” and that a weaker currency is probably needed to achieve balanced growth in the economy. The Australian dollar was last at 90.82 US cents, from 90.87 cents immediately before the statement and...

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