CANBERA: The Australian dollar recovered from its recent lows against the other major currencies in the Asian session on Tuesday after the Reserve Bank of Australia released minutes for its June 2 meeting.
In the minutes, the board members’ assessment was the monetary policy stance should be accommodative, although it did not signal any immediate easing and premised any further easing on evolving data.
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The board members preferred an unchanged stance to give them leeway for assessing incoming information on financial and economic conditions. The bank suggested that it would bank on data to decide if the monetary policy stance is appropriate to foster sustainable growth and inflation consistent with the target.
The Reserve Bank of Australia left the cash rate unchanged at 2.0% in June.
