Rio Tinto ( RIO ), one of Australia's largest diversified miners fell 1.13 pct or 74 cents to $64.91 while BHP Billiton ( BHP ) eased 0.61 pct or 22 cents to $36.03. On the economic front today, the RBA released its quarterly Statement on Monetary Policy and has kept the door open for further rate cuts this year. It is a similar story on the inflation front and effectively means that the longer term forecasts are less useful in gauging the Reserve Bank's view on how the economy will perform."