Australia’s central bank kept interest rates at record lows for a
14th straight policy meeting on Tuesday, saying the stimulus was
justified given the outlook for sub par growth even as consumers showed
signs of opening their wallets.
The result surprised no one but the local dollar did edge higher as
the Reserve Bank of Australia (RBA) refrained from escalating its verbal
campaign for a lower currency.
“Overall, the Bank still expects growth to be a little below trend
for the next several quarters,” said RBA Governor Glenn Stevens, in what
was a carbon copy of recent statements. “On present indications, the
most prudent course is likely to be a period of stability in interest
rates.”
2014/11/05
Consumers Encouraged by RBA Keeping Rates Low
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