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Interest rates remain steady – for now

As expected, the Reserve Bank of Australia (RBA) this week left the official cash rate on hold at six per cent.

The RBA last raised rates in May and August amid concerns about rising inflation and strong global demand. However, economists have been suggesting that there would be no changes likely until November 2006. Yesterday’s meeting was the first to be chaired by the new Governor, Glenn Stevens, who has taken over from Ian Macfarlane.

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