Australia central bank News

RBI said that the central bank has also mandated data analytics and market intelligence units for strengthening risk management systems as part of the review.

The bank said underlying inflation, measured at about 2.25% to 2.5% over the past year, was expected to remain within its 2.0 to 3.0% target.

Australian consumer prices rose 0.2 percent in the three months to March, data showed Wednesday, with the annual headline inflation rate softening to give the central bank room to cut interest rates.

The Reserve Bank of Australia last month cut rates for the first time in 18 months, dropping its cash rate by 25 basis points to a historic low of 2.25 percent.

Australia`s central bank Tuesday kept interest rates at a record low 2.5 percent, maintaining an unchanged outlook for the country`s economy as it continued to call for a weaker currency.