Glenn Stevens, who chaired his final Reserve Bank of Australia policy meeting on Tuesday in Sydney, is giving very little away as he hands over to successor Philip Lowe. The statement accompanying his decision to keep the cash rate unchanged at a record low 1.5 percent was just 375 words long, the shortest since May 2015, and gave almost nothing away on the outlook for monetary policy. He’s “effectively leaving a reasonably clean slate” for Lowe, according to Royal Bank of Canada interest-rate strategist Su-Lin Ong.
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