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RBA Still Desires Lower Australian Dollar

Australia’s central bank reiterated the need for deeper currency declines to balance economic growth that’s predicted to remain below average until the latter part of 2016.  “A lower exchange rate would have an immediate beneficial effect on some sectors such as tourism,” the Reserve Bank said in minutes of its June policy meeting in Sydney …

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RBA Minutes: RBA to Keep Close Eye in Coming Months

The Reserve Bank will keep a close watch on the economy in the coming months to assess whether more interest rate cuts are needed, as economic growth and business investment remains sluggish.  The RBA cut the cash rate to a historic low of two per cent in May, before leaving rates on hold at its …

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Australian Trade Deficit at Record Levels as Retail Sales Weaken

Australian retail sales stagnated and the nation’s trade deficit blew out to a record in April, in a challenge to a central bank trying to spur an economic recovery.  The currency slumped half a U.S. cent as sales were little changed from a month earlier, when they rose a downwardly revised 0.2 percent, and were …

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