RBA changes tune on cash and exchange rates
The Reserve Bank of Australia (RBA) closed the door on further interest rate cuts today, as it held the cash rate at 2.5% and stated that "on present indicators, the most prudent course is likely to be a period of stability in interest rates".
This was one of two main features in today's monetary policy statement. The second concerned the exchange rate, which the central bank noted had "declined further" and could "assist in achieving balanced growth in the economy".
This is a marked change in
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