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The Reserve Bank of Australia (RBA) released its minutes from November's monetary policy meeting. The RBA said that Australia's economy has grown at a moderate pace. The central bank added that gross domestic product growth will be below trend over 2014/15, but will pick up towards the end of 2016.
The RBA noted that "very low interest rates continued to support activity in the housing market".
Australia's central bank pointed out that "the most prudent course was likely to be a period of stability in interest rates".
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