AUSSIE CENTRAL BANK KEEPS INTEREST RATES AT RECORD LOW

SYDNEY: Australia’s central bank yesterday held interest rates at a record low of 1.50% and indicated what analysts called a “wait and see” approach to future monetary policy easing despite a run of soft inflation figures. The country is transitioning away from a resources investment boom that has helped the economy mark a quarter of a century of unbroken growth in the second quarter of this year. But with uneven growth in the labour market and non-mining sectors – and a recent spate of weak inflation data – the Reserve Bank of Australia has slashed interest rates twice since May. – AFP