RBA Holds Key Rate at 2.5% Omitting Easing Scope
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Australia’s central bank left its benchmark interest rate unchanged and omitted a reference to scope for more easing, sending the nation’s currency higher.
Governor Glenn Stevens and his board kept the overnight cash-rate target at a record-low 2.5 percent, saying in a statement that “the easing in monetary policy since late 2011 has supported interest-sensitive spending and asset values, and further effects can be expected over time.” The Reserve Bank of Australia’s decision was predicted by all 32 economists surveyed by Bloomberg News.