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Breaking News: RBA Cash Rate Unchanged at 1.50%

With the kick off of the new financial year, at its board meeting today the Reserve Bank of Australia decided to leave the official cash rate unchanged. The RBA continued its wait and see approach taking into account the latest edition of mixed economic data - including the fact that unemployment has remained steady at 5.7%, while underemployment remains high and real wage growth is low. The decision may also be due to an expectation that future growth forecasts will remain modest, inflation is forecast at the lower end of the RBA's target range, and signs that housing markets in Sydney and Melbourne may be slowing.

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