RBA Maintains Interest Rates, AUD/USD Falls
The Australian dollar fell against its US counterpart, rose versus the euro and was little changed against the Japanese yen after the nation’s central bank kept its interest rates unchanged and the trade balance surplus increased.
The Reserve Bank of Australia kept its benchmark Cash Rate at 4.75 percent. RBA Governor Glenn Stevens said in his statement after the decision:
A gradual recovery from the floods and cyclones over the summer is taking place, though the resumption of coal production in flooded mines continues to proceed more slowly than initially expected. The recovery will boo