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Given the current political uncertainty since our federal election and the fact the Australian economy may be bracing for a knock-on effect from the Brexit vote, the Reserve Bank of Australia (RBA) has left the cash rate on hold at 1.75 per cent.
In his statement, governor Glenn Stevens says the global economy is continuing to grow, at a lower than average pace. In Australia, recent data suggests overall growth is continuing, despite a very large decline in business investment.
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