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The Reserve Bank of Australia (RBA) released its interest rate decision on Tuesday. The RBA kept its interest rate unchanged at 2.50%.
The RBA Governor Glenn Stevens said that "the most prudent course is likely to be a period of stability in interest rates". He reiterated that the Aussie "remains above most estimates of its fundamental value, particularly given the significant declines in key commodity prices in recent months".
Stevens noted that the central bank "still expects growth to be a little below trend for the next several quarters".
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