Australia's central bank leaves rates on hold

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SYDNEY, Oct 3 (AFP): Australia's central bank today left interest rates unchanged at 6.50 per cent for a second straight month as concerns lingered over the potential impact of the US credit squeeze.
The Reserve Bank of Australia, revealing the result of Tuesday's monthly monetary policy meeting, had been widely tipped to adopt a "wait-and-see" approach to rates despite fears over inflationary pressure.
The bank raised interest rates by 0.25 points two months ago as inflation began to bite into Australia booming economy.