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The Reserve Bank has held the official interest rate at 3.6% in a move widely expected by economists and banks. The central bank’s board did not raise the prospect of future cuts in its statement, with the RBA governor, Michele Bullock, saying unexpected jumps in employment and inflation made the board “ a little bit cautious ”.

The Coalition took advantage of the news during question time , where Anthony Albanese and Jim Chalmers took turns batting the opposition’s attack lines away.

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