RBA Governor states that fall in AUD has eased the need for an immediate rate cut and could fuel continued recovery in the rate of economic growth

RBA Governor states that fall in AUD has eased the need for an immediate rate cut and could fuel continued recovery in the rate of economic growth. He notes that despite the current interest rate position demand for credit has not see a dramatic uptick with the exception of moderate deman in the household sector. GDP Growth remains slightly below target as the econoomy continued to feel the effect of the reduction in resources development spending. The Governor sees a case for continued depreciation of the AUD and noted scoped for further easing if required.