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Australia's Central Bank has left its benchmark interest rate unchanged at 4.5 percent, for a third straight month. Experts say the decision was prompted by signs the nation's economic rebound isn't stoking inflation.
Australia's quarterly inflation report showed that core prices rose only 2.7 percent in the second quarter, from a year earlier. It's the weakest consumer price inflation in three years. The reserve bank hiked borrowing costs six times between October last year and May this year.
Australia's rate decisions have helped drive an eight percent gain in the nation's currency against the US dollar, in the past 12 months.