Australia's central bank discussed unconventional monetary policies, including negative interest rates, at its August board meeting as it left the door ajar for further easing having already cut rates twice to 1%.

Minutes of the Reserve Bank of Australia's (RBA) Aug.6 meeting showed it would consider further cuts to interest rates if it was needed to support growth and achieve its 2% to 3% inflation target.

The RBA left interest rates at all-time lows earlier this month after easing by a quarter point in both June and July.

Financial markets are fully priced for another rate cut to 0.75% by year-end, and to 0.5% by February.

Economists polled by Reuters prior to the August meeting predicted a third cut would come in November.

The RBA was tight-lipped about the timing of the next move, saying only that it would consider a further easing "if the accumulation of additional evidence suggested this was needed" to support its growth and inflation targets.

Source : Reuters