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Australia central bank holds rates, still optimistic on economy

Reuters  |  SYDNEY 

By Swati PandeySYDNEY (Reuters) - Australia's central bank kept rates at record lows on Tuesday and took an optimistic view on domestic activity ahead of data that is likely to show the economy grew more than 3 percent last quarter.In a widely expected decision, the Reserve Bank of Australia (RBA) held its cash rate at 1.50 percent, having last eased in August 2016 as policy makers await a revival in growth and inflation. "The Australian economy is performing well," RBA governor Philip Lowe said in a statement, while predicting a further fall in unemployment. Yet as consumer prices remain ...

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First Published: Tue, December 04 2018. 10:42 IST
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