Australian Central Bank
Australian Central Bank

A decline in the price of the Australian currency against the US dollar, after the central bank announced a further rate cut.

The currency of Australia fell against its US counterpart during trading on Tuesday, after announcing the minutes of the country's central bank and hinting for further rate cuts.

Today, the Reserve Bank of Australia, during the minutes of its last December monetary policy meeting, expressed concern about the very weak pace of wage growth to revive either inflation or consumption.

The Australian central bank opened the door to a new rate cut in early February, if household incomes remain low or the labor market worsens for the worse.

Australia's currency fell against the US dollar

The members of the monetary policy agreed that it is reasonable to expect that there will be a need to keep interest rates at low levels for a long time in order to reach full employment and the goal of inflation.

The Australian central bank decided to fix the interest rate at 0.75 percent at the beginning of this month.

By 10:27 am GMT, the Australian dollar fell against its US counterpart by about 0.5 percent, bringing the Australian currency down to $ 0.6851.