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SYDNEY (Reuters) -Australia’s central bank left its cash rate at record lows on Tuesday and reiterated its lower-for-longer policy stance even as data showed the country’s economic output was above its pre-pandemic level and house prices were shooting through the roof.
FILE PHOTO: Pedestrians walk past the main entrance to the Reserve Bank of Australia (RBA) head office in central Sydney, Australia, October 3, 2016. REUTERS/David Gray
The Reserve Bank of Australia (RBA) left its policy settings at 0.1% for a sixth straight meeting, awaiting inflation and wage pressures, in a decision that was widely expected by economists in a Reuters poll. [AU/INT]
Australian stocks slid on Tuesday as rising COVID-19 cases in the state of Victoria dented sentiment, with investors eyeing a rate decision by the country's central bank later in the day.
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SYDNEY, May 31 (Reuters) - The Australian dollar rose on Monday to be on track for its second consecutive month of gains, ahead of a monetary policy-setting meeting by its relatively dovish central bank and supported by high commodity prices.
The Aussie was trading 0.19% higher at $0.7723, albeit nearer the lower end of its May range of $0.7675 to $0.7891, as investors wait to hear from the Reserve Bank of Australia (RBA) on Tuesday after its June meeting.
The New Zealand dollar was trading 0.12% higher at $0.7257 and is on track for a monthly 1.37% gain, rallying last week after the Reserve Bank of New Zealand signalled rate rises as early as the middle of next year, making it one of only a handful of central banks to talk of tightening.