MP3: Reserve Bank sees breakthrough in taming dollar

17.06.2013

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Reserve Bank sees breakthrough in taming dollar MP3

The Reserve Bank has signalled it is counting on further falls in the high Australian dollar to help rebalance the economy. In the minutes from its June board meeting, the RBA said recent cuts to the cash rate had helped tame the currency which was stubbornly high above parity until recently. Noting the impact of the surprise cash rate cut in May to 2.75 per cent, the RBA said, "the exchange rate had also depreciated... Source: abc.net.au

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