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RBA minutes show less inclination to ease policy

  • The aussie (FXA) pops to its highest level since after minutes from the RBA's October 1 policy meeting show the bank shifting to a more neutral bias going forward. "The effect of low interest rates was evident across a range of indicators and had further to run,” according to the release.
  • The bank on October 1 left its benchmark rate unchanged at a record-low 2.5% after cutting rates 225 basis points over the previous two years.
  • The aussie is ahead 0.4% to $0.9523.
  • Shares in Sydney (EWArose 1% overnight.
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