RBA keeps interest rates on hold

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THE Reserve Bank of Australia has kept official interest rates at a record low 2.5 per cent for the second month in a row. 

In a statement released today, Governor Glenn Stevens said the setting of monetary policy “remained appropriate” and the board would continue to assess the outlook and adjust policy as needed to foster sustainable growth in demand and inflation outcomes consistent with the target.

The official cash rate was last cut in August, when it was slashed by 25-basis-points .

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