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Australia still has room for lower interest rates: RBA

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A top Australian central banker on Monday said there was still scope to lower interest rates if needed, but declined to offer any guidance on whether a further move might be likely.

[SYDNEY] A top Australian central banker on Monday said there was still scope to lower interest rates if needed, but declined to offer any guidance on whether a further move might be likely.

Reserve Bank of Australia (RBA) Deputy Governor Philip Lowe said the central bank had a policy of not providing future guidance in months when it had moved rates, as it did in early May.

Answering questions at a corporate finance forum, Lowe said there was still scope to ease but the bank wanted to concentrate on assessing the impact of its latest move.

The RBA cut rates a quarter point to a record low of 2 per cent at its May 5 policy meeting.

REUTERS

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