The Reserve Bank of Australia (RBA) kept interest rates unchanged at a record low 2.75 percent on Tuesday, in line with market expectations that a weaker Australian dollar would prevent them from making a cut.
July’s decision marks the second month in a row that the RBA has left interest rates unchanged after making a 25 basis point cut in May – it’s only move this year. The central bank, however, maintained its easing bias saying that there was scope for future easing and it expects the Australian dollar to fall further.
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