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Australia central bank cuts interest rate by 0.25 percentage point to record low 2.75 per cent

The Canadian PressMay 7, 2013 01:30
CANBERRA, Australia - Australia's central bank cut its key interest rate by a quarter percentage point to a record low 2.75 per cent Tuesday in an effort to boost economic growth as a mining boom cools and the strong Australian dollar erodes business profits. Reserve Bank of Australia governor Glenn Stevens said in a statement following the bank's monthly board meeting that economic growth was below trend in the second half of 2012 and continued to be that way in 2013. Australia's long-term trend growth rate is around 3.25 per cent a year.

Signs low rates working, room for more stimulus if needed - Reserve Bank of Australia

April 15, 2013 22:00
SYDNEY (Reuters) - Australia's central bank felt the current level of interest rates was low enough to spur growth in many parts of the economy, but noted that headwinds such as a high local dollar and cooling mining investment were likely to persist. In the minutes of the Reserve Bank of Australia's (RBA) April 2 meeting, where it kept the cash rate unchanged at a record low 3.0 percent, policymakers reiterated that a benign inflation outlook meant there was room ease further if needed.

Signs low rates working, room for more stimulus if needed - Australia central bank

April 15, 2013 22:00
SYDNEY (Reuters) - Australia's central bank felt the current level of interest rates was low enough to spur growth in many parts of the economy, but noted that headwinds such as a high local dollar and cooling mining investment were likely to persist. In the minutes of the Reserve Bank of Australia's (RBA) April 2 meeting, where it kept the cash rate unchanged at a record low 3.0 percent, policymakers reiterated that a benign inflation outlook meant there was room ease further if needed.

Australian central bank leaves rates on hold

March 5, 2013 00:30
Australia's central bank kept interest rates steady at 3.00 percent Tuesday, saying downside risks in the global economy appeared to have eased while there were signs previous cuts were working. At its monthly meeting in Sydney, the Reserve Bank of Australia (RBA) decided to keep its cash rate where it has been since December, a historic low last reached in 2009 in the wake of the global financial crisis.
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