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RBA Stevens ‘chills out’ on cash rate cut
THE Reserve Bank boss is still open to cutting the cash rate again but will “chill out” until the bank’s first board meeting in 2016. “I’m more than content to lower it if that actually helps, but is that the best thing to do at a particular time?” Glenn Stevens told an Australian Business Economists (ABE) dinner in Sydney. “As for February, that’s three months away, we’ve got Christmas, we should just chill out and see what the (economic) data says.” Recent good economic data, including the unemployment rate falling to a six-month low, has caused the chances of another interest rate cut to ... (full story)