RBA Discussed Cutting Rates But Saw No Near-Term Case for a Move

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RBA Discussed Cutting Rates But Saw No Near-Term Case for a MoveThe Reserve Bank conceded rates were unlikely to need to rise in the period ahead and decided standing pat would allow it to be “a source of stability and confidence.” It noted the impact of further easing would be “smaller than in the past” because of high household debt and declining property prices. “Nevertheless, a lower level of interest rates could still be expected to support the economy through a depreciation of the exchange rate and by reducing required interest payments on borrowing, freeing up cash for other expenditure,” the RBA said in minutes of its April 2 meeting released in Sydney on Tuesday. The Australian dollar edged lower to 71.54 U.S. cents at 11:41 a.m. in Sydney from 71.64 just before the release.

Read More: https://finance.yahoo.com/news/rba-discussed-cutting-rates-saw-014310005.html

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