Colosseum a.s. (Colosseum a.s.)
Commodities  |  September 04, 2012 08:04:28

Australia left interest rates unchanged

ColosseumReserve Bank of Australia at its regular meeting left interest rates in the country at 3.5 percent. Governor Glenn Stevens also warned against the decline in commodity prices and uncertain economic growth of China, which is one of the largest trading partners of the country. Drop rates by 75 basis points in May and June has encouraged domestic spending and stabilize the housing market. Australia's economy managed to avoid recession already incredible 21 years. Stevens stressed that the Australian dollar is stronger than the central bank expected.

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