RBA's Stevens complains of strong currency as rates stay on hold

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The Reserve Bank of Australia (RBA) kept its headline interest rate on hold at 2.5% today, with governor Glenn Stevens complaining that the persistent strength of the Australian dollar is upsetting the economy's process of rebalancing.

In a statement, the governor painted a picture of both the domestic and global economy performing a little below par, with evidence broadly balanced to the up and down sides.

The global economy is expected to recover going into next year, and accommodative financi

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