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RBA leaves cash rate unchanged at 0.1%

The Reserve Bank of Australia (RBA) announced to keep the cash rate unchanged at 0.1% after its interest rate meeting on Tuesday (5th), in line with market expectations. However, in its post-meeting statement, the central bank removed the word "patiently waiting" on interest rate hikes, saying it would assess inflation and wage data in the coming months to make policy decisions. In addition, the central bank also expects that local inflation and wages will further increase, as for the unemployment rate will fall below 4% this year and next. The market believes that the RBA's remarks clearly pave the way for interest rate hikes in the second half of the year.
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