RBA Gets Comfortable at 2% as Stevens Stops Sweating on Currency
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Glenn Stevens seems to be relaxing his finger on the monetary-policy trigger.
Having slashed Australia’s cash rate twice this year, the central bank chief is getting some of the results he’s been looking for and has kept the target unchanged at 2 percent for three straight meetings. The Aussie dollar has fallen firmly below the 75 U.S. cent level Stevens said last year he would prefer, employment growth has strengthened and policy makers predict inflation will remain on target.