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Good afternoon,

The Reserve Bank has surprised economists and financial markets by leaving interest rates unchanged at 3.85 per cent, defying expectations of a third quarter-point cut in the current easing cycle, despite inflation staying within its target range.

Meanwhile, Lifestyle Communities may appeal a legal decision that voided its charging of hefty exit fees. The fall-out across the industry may be limited as its model was unique, but tougher rules are expected to protect seniors.

Mineral Resources is reconsidering its plan to part ways with managing director and co-founder Chris Ellison over his involvement in an offshore tax scheme, misuse of company resources and related party dealings.

Vesna Poljak
Business Editor
The markets


Commentary
Why rush? RBA fine-tunes its path to rate cuts
By ERIC JOHNSTON
Associate Editor
The RBA acts with an abundance of caution, but don’t worry, your next rate cut is coming, you’ll just have to wait.
Latest news
End of an era for Platinum as L1 merger moves forward
Kerr Neilson’s Platinum will be renamed as part of a $16.5bn merger that will see L1 try to turn around the fund manager’s chronic underperformance and outflows.
By CLIONA O’DOWD
Five ways to make interest rates work harder for you
The RBA’s decision to hold interest rates surprised many but rather than sit back and wait, here’s how you can build wealth with this year’s rate cuts so far.
By ANTHONY KEANE
Why oil drillers are investing big in South America
South America’s oil production is booming, driven by Brazil, Guyana and Argentina, offsetting losses from conflict-ridden regions.
By SAMANTHA PEARSON, COLLIN EATON

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