• Mon
  • Jul 14, 2014
  • Updated: 5:01am

RBA

Australia’s cenbank ready to act further as mining boom peaks

The cooling of Australia’s long-run mining investment boom will pose a significant challenge, but the central bank stands ready to help support an economy shifting to a new source of growth, the head of the Reserve Bank of Australia said on Wednesday.

Wednesday, 3 July, 2013, 12:09pm

Australia central bank keeps easing bias, talks down A$

Australia’s central bank kept its main cash rate at a record low of 2.75 per cent on Tuesday and said there might be room for further easing, given the local currency remained too high for comfort.

The Australian dollar duly slipped a third of a cent as the market took the Reserve Bank of Australia’s (RBA) comments as encouragement to sell.

2 Jul 2013 - 1:43pm