Market Currents
Australia lowers its benchmark interest rate 25 bps to 4.25%, the first consecutive cut since...
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Tuesday, December 6, 2011, 2:44 AM ETAustralia lowers its benchmark interest rate 25 bps to 4.25%, the first consecutive cut since 2009 (previously). RBA Governor Glenn Stevens says “financing conditions have become much more difficult, especially in Europe... This, together with precautionary behavior by firms and households, means that the likelihood of a further material slowing in global growth has increased."
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