Austrailia central bank holds rates at 4.75%, considers hike

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Australia's central bank held interest rates steady at 4.75 percent on Tuesday but left the door open for a hike in the coming months.

Cautious consumers, weak credit growth, and high local dollar were some of the reasons the Reserve Bank of Australia gave for keeping rates unchanged. And given uncertainties in global financial markets over recent weeks, the RBA believes its prudent to continue its current monetary policy. But looking ahead, the central bank put tightening on the agenda if the global outlook brightens.

Australia's underlying inflation rate is running at an annualized pace of around 3.6 percent, above the central bank's long term target of 2 to 3 percent.

Editor:Li Wanran |Source: CNTV.CN


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