RBA holds interest rate at 1.50%

The Reserve Bank is content to keep the cash rate at 1.50 per cent this month with the wider economy continuing to offset declines in mining investment.

RBA has left rates as they are. Source: AAP

The Reserve Bank has held the official interest rate steady at 1.50 per cent as the "moderate" pace of economic growth continues.

RBA governor Philip Lowe said, after cutting rates in April and August, the central bank was content to keep rates at a record low of 1.50 per cent at its October board meeting.

"The economy is continuing to grow at a moderate rate. The large decline in mining investment is being offset by growth in other areas, including residential construction, public demand and exports," Dr Lowe said in a statement.