The Reserve Bank of Australia (RBA) has decided to hold the cash rate at a record low of 0.1 percent, reiterating its expectation to keep it unchanged until 2024. However, the central bank will scale back its response to the stronger-than-expected economic recovery. The change means the RBA  is tapering off its massive monetary stimulus from its weekly government bond purchase, which will drop from $5 billion (US$3.7 billion) to $4 billion (US$2.9 billion), in early September after the completion of the current 12-month long $200 billion  (US$159 billion) stimulus program. In a statement, the RBA said that it remains committed to providing continuing monetary support for the economy so it can return to full employment and higher inflation. “The Board is committed to achieving the goals of full employment and inflation consistent with the target,” the statement says. “Today’s decisions, together with those taken previously, have the economy on a …