RBA 'open-minded’ to currency intervention


The Reserve Bank of Australia (RBA) is "open-minded" to the prospect of intervening in the exchange rate, according to Glenn Stevens, the central bank's governor.

In its latest monetary policy statement, the RBA acknowledged that a lower exchange rate was "likely to be needed" to achieve balanced growth in the economy. Stevens went one step further today - suggesting that large-scale intervention was a distinct possibility.

"Overall, in this episode so far, the Bank has not been convinced that

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