When the facts change I change my mind, what do you do sir
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RBA Holds Key Rate at Record-Low 2.75% After Currency Weakens
Australia’s central bank left its benchmark interest rate at a record low, saying it has room to cut further and judged that the nation’s exchange rate remains high even after the biggest monthly tumble since 2011. Governor Glenn Stevens and his board kept the overnight cash-rate target at 2.75 percent, the Reserve Bank of Australia said in a statement today in Sydney, as predicted by 24 of 26 economists surveyed by Bloomberg News. “The Board judged that the easier financial conditions now in place will contribute to a strengthening of growth over time,” Stevens said in the statement. “The inflation ... (full story)
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