RBA Says Loose Policy Likely to Be Appropriate for Some Time
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The Reserve Bank of Australia reinforced that interest rates will remain on hold for the foreseeable future as a fall in mining investment and fiscal tightening weigh on growth.
“A degree of spare capacity will be present for much of the forecast period,” the RBA said in its quarterly monetary policy statement in Sydney today. “The current accommodative monetary policy setting is likely to be appropriate for some time yet.”