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Reserve Bank of Australia minutes show continued concern over high AUD

Published 03/17/2014, 10:22 PM
Updated 03/17/2014, 10:24 PM

Investing.com - The Reserve Bank of Australia kept its cash rate at a record low 2.5% in March and it will stay there for a "period" because the level continues to support economic activity and a weaker exchange rate is achieving balancing growth in the economy though it remains a worry, according to the minutes of its March 4 board meeting released on Tuesday.

The RBA reiterated the exchange rate remains high by historical standards and remained a concern as it has showed little sign of staying below the $0.9000 level.

"The board would continue to examine the data over the period ahead, with members noting that, if the economy was to evolve broadly as expected, then the most prudent course was likely to be period of stability in interest rates," the RBA said.

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