The Reserve Bank has left its official interest rate target on hold at a record low 0.1 per cent and will continue its $4 billion-a-week bond-buying stimulus program until at least mid-February.
"In reaching its decision in February, the board will be guided by the same three considerations that it has used from the outset of the program: the actions of other central banks; how the Australian bond market is functioning; and, most importantly, the actual and expected progress towards the goals of full employment and inflation consistent with the target," Dr Lowe explained.
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