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MNI BRIEF: RBA Leaves Policy On Hold, Recovery Under Way

SYDNEY (MNI)

The Reserve Bank of Australia left monetary policy unchanged Tuesday, with the benchmark interest rate and target on the 3-year government bond both held at 0.1%, the bond-buying program unchanged and the size of the term-funding scheme for banks unrevised.

The bank said the Australian economic recovery was underway, but the bounceback would be "uneven and drawn out and it remains dependent on significant policy support".

The decision was in line with expectations.

MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
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