RBA governor sees scope for further monetary easing

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The governor of the Reserve Bank of Australia (RBA), Glenn Stevens, today released a statement explaining the central bank board's decision to leave the cash interest rate at 3%, but added that there is "scope to ease policy further".

Stevens said the board's view is that "with inflation likely to be consistent with the target, and with growth likely to be a little below trend over the coming year, an accommodative stance of monetary policy is appropriate".

He said there are "a number of

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