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Australia central bank holds rates at 2.5%

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Australia's central bank kept its cash rate steady at a record low of 2.5 percent on Tuesday, a widely expected decision given signs past policy easing was working to stimulate the economy as desired.

The Reserve Bank of Australia (RBA) made the announcement following its monthly policy meeting. All 20 analysts in a Reuters poll had forecast the RBA would hold rates this week, though many still expect a further easing in coming months .