Australia’s central bank sets measured tone on rates before budget

Strong market: Lowe says the Australian labour market remains strong. — Bloomberg

SYDNEY: Australia’s central bank held interest rates steady and again highlighted the strength of employment, showing no immediate inclination to echo the outright dovish tone of some of its global peers.

The measured message comes just hours before the country’s conservative government is expected to release an annual budget larded with tax breaks and infrastructure spending, stimulus that might lessen the need for rate cuts this year.