RBA rate hold linked to European stability concerns
Minutes of the Reserve Bank of Australia's Reserve 6 July meeting, published on Tuesday, showed that rate-setters at the central bank pinned their decision to hold the benchmark cash rate at 4.5% to concerns about the health of Europe's banks, which had the potential to have a "significant impact" on financial markets and global confidence.
Meanwhile, members of the board expected growth in private demand to pick up as investment strengthened, supported by high commodity prices. National
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