RBA Saw More Signs Low Interest Rates Helping Spur Economy

Australia’s central bank said it saw more signs record-low interest rates were boosting growth, and reiterated a period of steady borrowing costs was likely.

“Timely indicators were consistent with some improvement in economic conditions over recent months,” the Reserve Bank of Australia said in minutes released today of its March 4 meeting. “The decline in the exchange rate seen to date would assist in achieving balanced growth in the economy, though members noted that the exchange rate remained high by historical standards.”