Aug
04
RBA Holds Rates, Omits Reference to Need for Currency Drop
ByAustralia left its interest rates unchanged and omitted a reference to the need for the local dollar to fall further. The currency jumped 1 percent.
Central bank Governor Glenn Stevens and his board kept the cash rate at a record-low 2 percent, as predicted by markets and economists following reductions in May and February.
Stevens said in Tuesday’s statement the exchange rate “is adjusting to the significant declines in keyCOMMODITY PRICES
” after it fell through 73 U.S. cents last month. It is the first time since March 2014 that he hasn’t indicated the currency was too high…
RBA Holds Rates, Omits Reference to Need for Currency Drop
