The door is open to more rate cuts

Commonwealth Securities chief economist Craig James said the RBA is leaving the door open to a further rate cut but "it is by no means locked in".

The Reserve Bank released minutes of its last board meeting yesterday. Australian Chamber of Commerce and Industry chief economist Greg Evans said the economy needs another rate reduction, particularly after the government confirmed the move from a Carbon Tax of $25/tonne to an Emissions Trading Scheme (initial price $6/tonne) from July 1, 2014.

Source: Sydney Morning Herald