RBA Says Rate-Cut Impact Evident, Retains Option for Loosening
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Australia’s central bank said interest-rate reductions are affecting the nation’s economy, while retaining the option to loosen policy further to spur growth, minutes of the Oct. 1 meeting showed.
“The effect of low interest rates was evident across a range of indicators and had further to run,” the Reserve Bank of Australia said in the minutes released today in Sydney. “Members agreed that the bank should again neither close off the possibility of reducing rates further nor signal an imminent intention to reduce them.”