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Australia central bank holds rates at 2.5%

Tuesday, October 7, 2014 - 11:52

[SYDNEY] Australia's central bank kept its cash rate steady at a record low of 2.5 per cent for a 13th straight meeting on Tuesday, a widely expected decision given the economy is fighting the drag from a cooling mining sector and lower export prices.

The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. All 18 analysts in a Reuters poll had felt the RBA would leave rates unchanged this week. - Reuters