Interbank conditions influenced RBA decision

The Reserve Bank of Australia's rate-setting board decided to leave rates unchanged in November because of interbank tensions, minutes of the meeting published on Tuesday reveal.

"Members indicated that, absent the changes in market yields since the November meeting, there would have been a strong case on domestic grounds for a rise in the cash rate at this meeting," the minutes said. "But given that a rise in money market rates had occurred, members observed that a further rise in the cash rate

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