The Reserve Bank of Australia held its policy interest rate unchanged on
Tuesday, in a widely expected move, with the central bank citing
reasonable prospects for a pick-up in global growth next year. In a
statement accompanying the decision, RBA Gov. Glenn Stevens said that
the inflation outlook, as currently assessed, may provide some scope for
further easing, should that be required to support demand. The
Australian currency showed brief volatility after the move but quickly
stabilized, buying 97.26 U.S. cents, up modestly from 97.14 U.S. cents
minutes ahead of the decision. The Aussie dollar had traded above parity
with its U.S. rival at the time of the May rate cut but began losing
ground following the easing.
Source by Commodity Insights
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