Reserve Bank of Australia says not closing possibility to support gowth

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Investing.com - The Reserve Bank of Australia is not closing off the possibility to support sustainable economic growth even as evidence of the impact of a record low cash rate of 2.5% becomes evident, according to the minutes of the Nov. 5 board meeting released on Tuesday.

The minutes suggested that the exchange rate however remains "uncomfortably high" and has hindered a shift from resources-led investment to housing and other sectors.

The RBA said it judged it was prudent to leave the cash rate unchanged, but "not to close off the possibility of reducing it further should that be appropriate to support sustainable growth in economic activity, consistent with the inflation target."

AUD/USD traded at 0.9374, down 0.02%, just after the release of the minutes.

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