Economics
RBA Holds Rate at Record Low to Spur Jobs Amid Rebalancing
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The Reserve Bank of Australia kept its key interest rate at a record low and repeated it expects a period of steady borrowing costs amid below-trend growth.
The overnight cash rate target was held at 2.5 percent for a 12th month, Governor Glenn Stevens and his board announced in Sydney today in a largely unchanged statement. The decision was predicted by all 32 economists surveyed by Bloomberg News.