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Australia’s Central Bank Delays Rate Cut Despite Easing Inflation

Gold Falls Below $3,350 as U.S. Jobs Report Surprises to the Upside
Gold Falls Below $3,350 as U.S. Jobs Report Surprises to the Upside

Australia’s central bank surprised markets by keeping interest rates steady at 3.85% instead of cutting them as expected.

Most investors had predicted a rate cut due to slowing inflation and weak consumer spending, but the Reserve Bank of Australia said it needs more data before easing.

The decision sent the Australian dollar higher and bond markets lower. While the bank still sees a rate cut in the near future, likely in August, it’s treading cautiously amid global uncertainty and recent trade tensions.

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