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RBA holds its nerve on rates, defying wave of global easing

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"With growth in labour costs continuing to be quite subdued ..., and inflation restrained elsewhere in the world, inflation is likely to remain low over the next year or two," says Mr Stevens.

Sydney

AUSTRALIA'S central bank held its policy nerve in the face of global easing and financial market upheaval that's frustrating efforts to shift the economy away from mining. Yet it reiterated that limited price pressure provides scope to ease rates further.

Reserve Bank of...

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