Shares drop to six-week low as RBA leaves rates on hold
The Reserve Bank has indicated interest rates may not be moving anytime soon. -AAP Image
The local share market has dropped to a six-week low after the Reserve Bank kept interest rates unchanged and suggested that it was in no hurry to adjust them in either direction.
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The benchmark S&P/ASX200 index on Tuesday fell for the fifth time in the past six sessions, dropping 81.1 points, or 0.91 per cent, to 8,813.7, while the broader All Ordinaries slid 84.3 points, or 0.92 per cent, to 9,098.2.
The Australian dollar was buying 65.32 US cents, from 65.59 US cents at 5pm on Monday.
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