I use the file cache class. It is a generic data caching class that keeps cached data in files.
phpclasses.org/filecache
This is not provided as provided as part of Metabase because it can be used for other things besides caching queries.
Other than that, if you want to generate a page that is made of content taken from multiple database queries, it is more efficient to cache the actual HTML of the page, than keeping multiple caches for each query you performed.
These and other performance improvement aspects are explained Metabase FAQ:
meta-language.net/metabase-faq.html
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