RBA stands pat, scaled back bond purchases as markets improved

<p>RBA left monetary policy unchanged today as widely expected. The cash rate is held at 0.25%. The bank &#8220;will not increase the cash rate target until progress is being made towards&#8221; the dual mandate of full employment and inflation target. Target for 3-year government bond yield is also kept at 0.25%. Global financial markets are [&#8230;]</p>
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