Australian central bank holds rates, but governor warns of future rises

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The Reserve Bank of Australia (RBA) has reiterated to keep the cash rate at a historically low level in the near term, while reminding borrowers to prepare for a rate hike.

Members of the policy board agreed “there was no strong case for a near-term adjustment in monetary policy”, according to the minutes of its last policy meeting, published on August 21.

The RBA has repeatedly ruled out a near-term rate hike, citing subdued wages and below-target inflation. But governor Philip Lowe warned

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