Reserve Bank of Australia publishes monetary policy statement

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The Reserve Bank of Australia (RBA) has released its latest quarterly Statement on Monetary Policy, which says signs are emerging of the Australian economy responding to the 125 basis points knocked off the RBA's cash interest rate over the course of 2012.

The statement says savers have "been changing their portfolios towards assets with higher expected returns", causing asset values to rise, and some "interest-sensitive areas of spending have increased".

On the other hand, the RBA expresses

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