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RBA leaves interest rates unchanged

As it was largely expected RBA left interest rates unchanged. The Board judged that leaving the cash rate unchanged was appropriate at this meeting. Information on economic and financial conditions to be received over the period ahead will inform the Board's assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target.
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PBoC once again cuts interest rates

It was another uneventful morning part of the session for Aussie however, with initial bearish gap as over the weekend, the People's Bank of China cut interest rates and its deposit rate to 4.85% and the deposit rate to 2% respectively from Sunday. Furthermore, Greek concerns also had effect on Aussie.
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Aussie lower in an uneventful morning part of the session

This morning from Australia only minor importance MI Leading Index figures were released, showing 0.1% decrease. The Australian economy appears to have suffered a loss of momentum. After a promising start with four months of above-trend reads, the Leading Index growth rate has effectively dropped back to zero in May indicating a more subdued growth pulse in line with long run averages.  Read more...

RBA sees monetary policy remaining accommodative

The Reserve Bank of Australia sees monetary policy remaining accommodative especially as the Aussie has remained stronger than desired, according to minutes of the June 2 board meeting released this morning. The RBA held rates at a record low 2% at the meeting. Read more...

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