The Reserve Bank of Australia has kept interest rates on hold at 4.35 per cent for its eighth-straight meeting, despite inflation falling to its lowest level in almost four years.
Economists and analysts almost unanimously expected the central bank to leave the cash rate at its highest level since November 2011.
While headline inflation fell to 2.8 per cent in the September quarter — the lowest level in three-and-a-half-years — the RBA said it remained too high to consider cutting rates.
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