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June 17, 2013, 9:41 p.m. EDT

Australia sees scope for more rate cuts: minutes

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By Michael Kitchen

LOS ANGELES (MarketWatch) -- The Reserve Bank of Australia is ready to cut interest rates further if need be, according to the minutes from its June 4 meeting, released Tuesday. The RBA's policy board "judged that the inflation outlook as currently assessed might provide some scope for further easing, should that be required to support demand," the minutes said. The RBA left rates unchanged at the June meeting. The Australia's dollar slipped following the minutes' release, buying 95.26 U.S. cents, down from 95.40 cents just prior to the release.

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