The Reserve Bank has left the cash rate at a record low of two per cent for a tenth straight month, and remains optimistic about the local economy, with inflation close to target.
RBA governor Glenn Stevens took note of solid domestic economic momentum despite recent global financial market volatility.
"New information should allow the Board to judge whether the recent improvement in labour market conditions is continuing and whether the recent financial turbulence portends weaker global and domestic demand," he said in a statement after the RBA's monthly board meeting on Tuesday.
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