Australia holds OCR in place at 4.35 percent
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Over in Australia, the Reserve Bank has moved to keep the official cash rate in place at 4.35 percent.
The result was widely expected by economists and money markets, despite inflation remaining above the RBA’s 2-3 percent target range in the June quarter.
HSBC Chief Economist Paul Bloxham says there's evidence that the Australian economy is slowing down, which is helping put downward pressure on inflation.
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