RBA retains scope for monetary easing

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The Reserve Bank of Australia today (February 21) released minutes from the latest Monetary Policy Board meeting, which showed the thinking behind holding the benchmark rate at 4.25% – a move that surprised markets earlier this month.

The board members celebrated the fact that the decisions in November and December 2011 to lower the cash rate by a cumulative 50 basis points in response to the improved inflation outlook and deterioration in the global economy had now been passed through to most

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