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Reserve Bank of Australia to maintain 'highly accommodative settings': minutes

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Australia's central bank will maintain its "highly accommodative settings" as long as required and will continue to consider how further policy measures could support the country's flagging economy, minutes of its September meeting showed on Tuesday.

[SYDNEY] Australia's central bank will maintain its "highly accommodative settings" as long as required and will continue to consider how further policy measures could support the country's flagging economy, minutes of its September meeting showed on Tuesday.

At its Sept 1 policy meeting, the Reserve Bank of Australia (RBA) held its cash rate at a record low of 0.25 per cent in a widely expected decision, having slashed rates in an emergency meeting in March to blunt the economic shock from the coronavirus pandemic.

Odds have since narrowed for a further cut with interest rate futures almost fully pricing in a 15 basis point reduction to 0.1 per cent at the RBA's Oct 6 policy meeting.

The minutes did not indicate a policy action was imminent.

REUTERS

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