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Australia central bank cuts rates to record low 2.75 pct
by hlk Tue 07 May 2013, 13:02
Business & Markets 2013
Written by Reuters
Tuesday, 07 May 2013 12:32
A + / A - / Reset
SYDNEY (May 7): Australia's central bank on Tuesday cut its main cash
rate a quarter point to a record low of 2.75 percent, the first easing
since December as the global outlook turned more uncertain and the
domestic economy struggled with a high currency.
The Reserve Bank of Australia (RBA) made the announcement following
its monthly policy meeting. A majority of analysts had thought the central
bank would keep rates at 3 percent this week, but markets had seen a
cut as a 50-50 proposition.
Written by Reuters
Tuesday, 07 May 2013 12:32
A + / A - / Reset
SYDNEY (May 7): Australia's central bank on Tuesday cut its main cash
rate a quarter point to a record low of 2.75 percent, the first easing
since December as the global outlook turned more uncertain and the
domestic economy struggled with a high currency.
The Reserve Bank of Australia (RBA) made the announcement following
its monthly policy meeting. A majority of analysts had thought the central
bank would keep rates at 3 percent this week, but markets had seen a
cut as a 50-50 proposition.
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