Central Bank of Australia kept policy rate constant at 1%

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The Central Bank of Australia (RBA) kept the policy rate constant at 1% in line with expectations.

The RBA assesses the impact of interest rate cuts in June and July.

The RBA statement came after a monthly policy meeting today. In a Reuters poll among 36 analysts, all but one analyst expected the bank to keep interest rates constant.

The RBA also said it would loosen its monetary policy if needed to support sustainable growth.

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