In a widely expected decision, the Reserve Bank of Australia holds interest rate after three consecutive hikes
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The Reserve Bank has held the cash rate at 4.35% in a widely expected decision despite persistent worries about elevated inflation.
The announcement comes amid a steep decline in property prices in Sydney and Melbourne after three rate hikes earlier this year and major reforms to investor taxes.
Continue reading...This article was originally published by The Guardian and written by Luca Ittimani and Patrick Commins.
Read original article on The Guardian