RBA chief talks down A$, questions benefits of rate cuts

Sydney

AUSTRALIAN central bank chief Glenn Stevens is again talking down the nation's currency as he questions the benefits of cutting borrowing costs further.

The Reserve Bank of Australia (RBA) governor killed off a rally that had taken the Aussie to a two-week high when he told a conference in New York on Monday that he would "be a bit surprised actually" if the currency doesn't decline from current levels. He also said that reducing interest rates may be less effective now that they are at record lows, while reiterating a willingness to do so again if growth sags.