Aus Reserve Bank keeps cash rate at record low of 1.5%
The Reserve Bank of Australia (RBA) left the official cash rate on hold at a record low of 1.5% on Tuesday, amid concerns that the rates are becoming ineffective at stimulating growth. The RBA had earlier slashed the interest rate by 25 basis points (0.25%) in August, but analysts said that it had failed to combat the high Aussie dollar.