Australia: RBA cut policy rate by 25 bps to historic low of 2.5%

[Rajesh Desai]

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From: <rese...@icicibank.com>
Date: Tue, Aug 6, 2013 at 11:41 AM
Subject: Australia: RBA cut policy rate by 25 bps to historic low of 2.5%
To: stock...@gmail.com

The Reserve Bank of Australia (RBA) reduced the benchmark rate by 25 bps in line with expectations The RBA noted that domestic growth has remained below trend while inflation is well within the target The Central Bank expects further depreciation in the Aussie, which would foster economic rebalancing The RBA said that going ahead it would carefully asses economic outlook and adjust policy accordingly We expect the RBA to remain on status quo for the rest of 2013 and save policy ammunition for future Please refer to the attached document for the detailed report Regards, ICICI Bank : Treasury Research Contact: Rupali Sarkar: +91-22-2653-1414 (2023

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CA. Rajesh Desai