Stevens Says RBA Board Deliberated ‘Very Long Time’ on Pause
This article is for subscribers only.
Reserve Bank of Australia Governor Glenn Stevens said the board “deliberated for a very long time” yesterday before keeping its key interest rate unchanged, sending the currency to the lowest level since September 2010.
The Aussie touched 90.53 U.S. cents and bets on a rate cut next month rose to 55 percent from 37 percent after the comments, which Stevens made today at the introduction of a speech in Brisbane, where the RBA board met yesterday. The remark was intended as an aside, according to an RBA official who asked not to be named, citing bank policy.