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The Reserve Bank of Australia has left official borrowing costs unchanged for a 19th straight meeting, a record run of stability, as house prices continue to fall.
Board members meeting on Tuesday left the overnight cash rate at 1.5 per cent, where it has been since August 2016.
A slowing housing market, weak inflation and soft wages growth have left the Reserve Bank with little choice but to further delay its plans to normalise monetary policy. Most economists and financial markets don’t expect a rate cut before 2019.
Source: www.afr.com
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