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Economic Buzz: Australia Keeps Rate Unchanged At Record Low

5 Apr 2022 , 12:05 PM

Australias central bank kept its key interest rate unchanged at a record low, as widely expected, on Tuesday. The policy board of the Reserve Bank of Australia headed by Governor Philip Lowe decided to maintain its cash rate target at 0.10 percent. Inflation has picked up and a further increase is expected, but growth in labor costs has been below rates that are likely to be consistent with inflation being sustainably at target, the bank noted.

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