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Australia leaves interest rates on hold

Australia leaves interest rates on hold

Australia's central bank has left its key interest rate unchanged at 3 percent at the latest meeting of its board.
Tuesday's decision to keep interest rates on hold following a series of aggressive cuts in the past six months was widely expected by economists.
The Reserve Bank has lowered interest rates by 4.25 percentage points since September, when the global financial crisis exploded and send economies worldwide tumbling.
Lower rates have helped stimulate economic activity, along with multibillion-dollar handouts to households by the government as it tries to protect Australia from a recession.


Updated : 2021-05-09 01:37 GMT+08:00