Inflation outlook leaves scope for RBA cuts

Members of the Reserve Bank of Australia's rate-setting board saw no pressing case for further monetary stimulus but concurred that the inflation outlook left scope for cuts if required, the minutes of this month's policy meeting show.

The board said maintaining the policy rate at its 49-year low of 3% was consistent with fostering sustainable growth and low inflation, and would leave adequate flexibility to respond to developments as needed.

Click here to read the minutes

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