RBA holds interest rates steady again

AUSTRALIA - The Reserve Bank of Australia, in a widely anticipated response to a worsening global economy and the growing impact of the drought, announced on Wednesday that it had decided to leave interest rates on hold for a fifth month.

The central bank, whose policy-making board held its monthly meeting on Tuesday, confirmed in a brief statement that its benchmark official cash rate would remain at 4.75 per cent. As is its custom, it gave no reason for its decision, the Australian Financial

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