Mar 5, 2013
RBA retains dovish tone, but no urgency to cut
RBA held rates unchanged at 3% as widely expected. The accompanying statement failed to provide fresh clues either. The central bank said the Aussie remains overvalued - still expensive - , global markets remain susceptible to shocks - downside risks appear to have lessened over recent months - and that China growth has remained fairly robust; with regards to inflation, the RBA still retains dovish tone, saying "outlook for inflation gives scope to ease." However, it continues to show little urgency to cur further in the statement.
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