Australian rates likely to remain unchanged

AUSTRALIA - Australia's central bank governor said on 11 May that interest rates will be cut again only if there is a dramatic threat to the U.S. and global economies.

Central bank governor Ian Macfarlane told an Australian parliamentary committee that the 1.25 percentage points of rate cuts this year should be enough to rescue the domestic economy and prevent a recession.

There is a "reasonable chance that the current stance of policy will turn out to be easy enough to achieve the desired results

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