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RBA Chief Sees Australia Economy Picking Up, Fails to Signal Imminent Cut
Australia’s central bank chief Philip Lowe reiterated that his economy is at a “gentle turning point” and gave little indication that an interest-rate cut was in the immediate offing, potentially disappointing economists expecting one within days. “At our board meeting next week, we will again take stock of the evidence,” the Reserve Bank governor said in the text of a speech Tuesday in Armidale, a regional city in northern New South Wales. “Further monetary easing may well be required. While we are at a gentle turning point and expect growth to pick up, the strength and durability of this pick-up remains ... (full story)