Australia’s central bank on Tuesday kept benchmark interest rates unchanged at a record low of 2.5 percent, as expected.
In a statement, the Reserve Bank of Australia (RBA) said its monetary policy was appropriate, adding that past interest rates were still making their way through the economy.
The RBA also said the Australian currency remained “uncomfortably high,” and needed to fall further to achieve a balanced growth in the economy.
The Aussie dollar fell a quarter of a U.S. cent after the statement.
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