RBA rate cut watch

Townsville Bulletin - - NEWS -

THE Re­serve Bank will keep a close watch on China’s stock mar­kets, the Greek debt cri­sis and soft lo­cal busi­ness in­vest­ment to see if fur­ther rate cuts are needed. The RBA cut the cash rate to a his­toric low of 2 per cent in May and has left it there at its June and July meet­ings. In the min­utes of the July meet­ing, re­leased yesterday, the cen­tral bank said in­ter­na­tional and lo­cal eco­nomic news would play a part in fu­ture rate de­ci­sions. It said growth in Aus­tralia’s ma­jor trad­ing part­ners was around av­er­age.

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