As expected, the Reserve Bank of Australia keeps its key interest rate at 3.5%, the highest...

|By:, SA News Editor

As expected, the Reserve Bank of Australia keeps its key interest rate at 3.5%, the highest among major developed countries. The decision comes as the country's key mining industry copes with slowing Chinese growth, and follows cumulative cuts of 1.25% from November-June, which helped boost domestic spending and stabilize the housing market.