Australia s cbank tapers QE but affirms low rates outlook Reuters 17 hrs ago By Swati Pandey and Wayne Cole © Reuters/David Gray FILE PHOTO: Pedestrians walk past the main entrance to the Reserve Bank of Australia head office in central Sydney, Australia
By Swati Pandey and Wayne Cole
SYDNEY (Reuters) -Australia s central bank on Tuesday took its first step towards tempering its massive stimulus as employment proves far stronger than previously expected, although actual rate hikes remain a distant prospect.
The Reserve Bank of Australia (RBA) held the cash rate at a record low 0.1% in a widely expected move and reiterated the need for the setting to remain unchanged until 2024 to help spark wage and inflation pressures.
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