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Australia's central bank governor signals steady rates for a while yet

Reuters  |  MELBOURNE 

By Swati Pandey and Wayne ColeMELBOURNE (Reuters) - Australia's central bank aims to keep interest rates at record lows for a while yet, governor Philip Lowe said on Friday, with any tightening "quite some time away" and likely to be gradual as households try to whittle down a mountain of debt. The Reserve Bank of Australia (RBA) has left interest rates at an all-time low 1.50 percent after last easing in August 2016 as it balances lukewarm inflation with skyrocketing household debt. "It was a reasonable assumption that the next move in interest rates was up rather than down but it is quite ...

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First Published: Fri, August 11 2017. 12:00 IST