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Australia's central bank keeps interest rate at 2.0%

Australia’s central bank Tuesday held interest rates at a record low of 2.0 percent as it kept the possibility of further easing on the table and dropped calls for a weaker exchange rate. The Reserve Bank of Australia said it would continue to monitor data over the next few months, adding that leaving the cash rate unchanged “was appropriate” for this month. “Further information on economic and financial conditions to be received over the period ahead will inform the board’s ongoing assessment of the outlook and hence whether the current stance of policy will most effectively foster sustainable growth and inflation consistent with the target,” RBA governor Glenn Stevens said in a statement.

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