The Reserve Bank of Australia says it has scope to cut interest rates, if needed, to offset the effect of the high Australian dollar. RBA assistant governor Guy Debelle this morning said the central bank had been able to counter the effects of the high value of the Australian dollar on the economy by cutting the cash rate. And, he said, the RBA could further cut the cash rate, currently at 3.0 per cent, if the high dollar continued to have a negative impact. ‘‘To date in Australia, we have been able to counter the effects of the higher Australian dollar with lower interest rates,’’ he said in a speech to the ... (full story)