Interest rate cut needed to weaken Australia's currency: Emerald Group Australia

Note: This section contains information in English only.
Source: Bloomberg
The Reserve Bank of Australia holds its benchmark rate at the highest level among all major developed economies and thus it should consider a cut of the rate in order to weaken an "overvalued" currency, a grain marketer Emerald Group Australia Pty said on Wednesday.  The RBA maintains its interest rate at a level of 3% and the Australian currency was traded at $1.0323 on Wednesday.

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