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Price gauge shows RBA may hold on rates
The Reserve Bank of Australia might still keep its finger off the interest rate button despite a private sector survey showing slower growth in consumer prices. The TD Securities Melbourne-Institute monthly inflation gauge, released on Monday, showed that consumer prices rose by 0.1 per cent in October after a lift of 0.2 per cent in September and a 0.6 per cent gain in August. In the 12 months to October, the gauge rose 2.4 per cent. The rise for October was attributed to increased prices for communications, newspapers books and stationary, and domestic holiday travel and accommodation. These were offset by weaker ... (full story)
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