RBA quiet on further easing as it holds rates

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The Reserve Bank of Australia (RBA) held its key policy rate at 2.5% today, as governor Glenn Stevens delivered a cautious statement on the prospect of further cuts.

In August, the RBA cut its cash rate by 25 basis points to 2.5% – a record low – and was widely expected to keep policy unchanged today.

The continuity was striking: Stevens' statement was almost a word-for-word replica of his comments following the August meeting, with the main addition an assurance that, despite the volatility in

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