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The Australian Central Bank sets the key interest rate unchanged

2018-08-07 07:27 am | Resource: NEWS | No Views : 283

The Reserve Bank of Australia kept its key interest rate unchanged on Tuesday, as economists had widely expected.

The Reserve Bank of Australia, ruled by Philippe Lowe, voted to keep the cash rate at 1.50%. The bank cut interest rates by 25 basis points in August and May last year.

"Taking into account available information, the Board considered that the monetary policy stance unchanged at this meeting would be consistent with sustainable growth in the economy and achieve the inflation target over time," the bank said in a statement.

The Australian central bank noted that the low level of interest rates continues to support the Australian economy. Further progress is expected to be made in reducing unemployment and achieving an inflation rate of return to the target, although this progress is likely to be gradual, the Reserve Bank of Australia said.

Australia's construction sector continued to expand in July at a faster pace, according to the latest Australian Industry Group survey on Tuesday, with construction performance index 52.0.

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Best Opportunities, Vision and Technical Analysis for the USD/JPY pair 17 April 2019

We offer you the analysis of the US dollar against the Japanese Yen on Wednesday, April 17, 2019 with the most important expectations for the dollar against the Japanese yen on the market. Time frame Used - four hours The USD/JPY is moving in a bullish direction in the near term. USD/JPY is still facing resistance and selling pressure around 112.10 as the USD-JPY closed yesterday's session down below 112.00…

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