Australia

AUD/USD Trading Around 0.80 after RBA Minutes

The Reserve Bank of Australia (RBA) left open the possibility it might cut interest rates further, minutes from its May 5 meeting showed, triggering a slump in the Australian dollar on Tuesday. In the minutes from the meeting that saw the RBA cut rates to a record low of 2 percent, the central bank acknowledged …

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RBA Minutes: Retains Easing Bias

Australia’s central bank indicated it still has scope to ease policy if needed after cutting interest rates two weeks ago, saying slower growth would result in elevated unemployment for longer. The rate reduction reflected signs spending by firms in the resource industry and outside it “would be weaker than expected,” the Reserve Bank of Australia …

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RBA’s Lowe: RBA is Treading a ‘Fine Line’

The Reserve Bank is treading a fine line between stimulating the economy without causing potentially damaging imbalances, a senior central bank official says.  RBA deputy governor Philip Lowe said low interest rates were helping to wean Australia off dependence on the mining investment boom by supporting spending.  In time, consumer spending growth and a further …

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RBA’s Lowe: We still have room to move on rates

The Reserve Bank of Australia still has scope to lower interest rates further, but is remaining tight lipped about the likelihood of future cuts. “We still have scope to lower interest rates if we need to, that doesn’t mean we’re going to but we have scope to do that,” RBA deputy governor Philip Lowe told …

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