Australian dollar falls as RBA keeps rate cut on agenda
The Australian dollar fell sharply today (December 17) after the central bank indicated it is still considering an additional rate cut from the current record low of 0.75%.
Reserve Bank of Australia board members noted they “had the ability to provide further stimulus to the economy, if required”, say the minutes of the monetary policy meeting held on December 3. Following the publication, the Australian dollar fell to 1.45 per US dollar.
In a bid to boost below-target inflation, the RBA
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