Reserve Bank of Australia keeps key rate unchanged, repeats view it has scope for easing

Tue, 02 Apr 2013

April 2 (BusinessDesk) – The Reserve Bank of Australia kept its cash rate unchanged at 3 percent as expected and repeated its view that there is scope to ease policy if necessary to support demand. Today’s statement contains almost identical language to the March 6 statement. “Inflation is consistent with the medium-term target, with both headline CPI and underlying measures at around 2¼ per cent on the latest reading,” Governor Glenn Stevens said. “Labour costs remain contained and businesses are focusing on lifting efficiency. These trends...

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