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RBA holds rate amid fears of strong currency stunting growth

Wednesday, August 2, 2017 - 05:50

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"The higher exchange rate is also weighing on the outlook for output and employment." - RBA governor Philip Lowe.

Sydney

AUSTRALIA'S central bank kept interest rates unchanged while warning that a rising currency is expected to subdue inflation and weigh on the outlook for growth and employment.

Governor Philip Lowe and his board held the cash rate at 1.5 per cent on Tuesday, as expected by

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