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AAP
AAP
Business
Poppy Johnston

RBA resists taking a punt on Melbourne Cup day rate cut

RBA Michele Bullock Inflation Bianca De Marchi Tapas Strickland Reserve Bank of Australia The Reserve Bank of Australia
RBA chief Michele Bullock has hedged her bets on the possibility of a rates cut in the short term. (Bianca De Marchi/AAP PHOTOS)

The wait for interest rate cuts may be even longer as the Reserve Bank of Australia stares down underlying inflation it says is still too high.

All bets were on no change when the central bank board announced its decision before the Melbourne Cup on Tuesday.

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