Rate cuts and lower currency supporting growth: RBA

Sydney

AUSTRALIA'S central bank said interest-rate cuts this year and the currency's depreciation are supporting growth, indicating interest rates are likely to remain on hold.

The inflation forecast was lowered for the year through June 2016, as expected, and growth trimmed by a quarter point at the start and end of the forecast period, in the Reserve Bank of Australia's (RBA) quarterly monetary policy statement released on Friday.