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The Reserve Bank of Australia (RBA) kept unchanged its interest rate at 2.00% on Tuesday. This decision was expected by analysts.
The RBA Governor Glenn Stevens said that the board' decision was appropriate at this meeting.
He noted that Australia's economy continued to expand moderately.
The RBA governor also said that there is a degree of spare capacity, and the Australian dollar is adjusting to lower commodity prices.
Stevens pointed out that "monetary policy needs to be accommodative", and it "will most effectively foster sustainable growth and inflation consistent with the target".
The central lowered its interest rate twice this year.
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