The Reserve Bank of Australia has left the cash rate at a record-low 1.5 per cent, as low wage growth and inflation put the board in a holding pattern for the 19th month in a row. "The low level of interest rates is continuing to support the Australian economy," RBA governor Philip Lowe said in a statement. "Further progress in reducing unemployment and having inflation return to target is expected, although this progress is likely to be gradual." Providing some relief to heavily indebted homeowners, the market has in effect ruled out a change before November after the usually reticent RBA board last month signalled ... (full story)