- Australia's central bank left its official cash rate unchanged at 2% at its July monetary policy meeting as sliding commodity prices and uncertainty in China argued for continued stimulus, and even the chance of more cuts.
- RBA Governor Glenn Stevens also underlined the need for a lower currency, stating further depreciation seemed "both likely and necessary."
- The central bank has already eased twice this year as the unwinding of a mining boom carves a gaping hole out of business spending and national income.
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