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INTEREST rates did not budge today after the Reserve Bank of Australia (RBA) held its first board meeting since the Federal Budget.
The official cash rate has been at 4.75 per cent since November last year.
The sharp fall in March quarter economic growth, a strong dollar and weak jobs ads all contributed to the RBA's decision to keep the cash rate steady.
The central bank has previously warned the cash rate will have to rise "at some point" because of potential inflation pressures from a record terms of trade and a massive business investment pipeline as a result of the mining boom.