The board of the Reserve Bank of Australia viewed that further monetary policy tightening might be required to bring inflation to the target but policymakers assessed that the interest rate should remain unchanged at the July meeting to alleviate the risk of slower economic growth.
Members discussed either increasing the cash rate by a quarter-point or holding the rate unchanged at the current level, the minutes of the meeting held on July 4 showed on Tuesday.
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by Renju Jaya
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