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As expected, the Reserve Bank of Australia keeps its key interest rate at 3.5%, the highest...

Sep. 04, 2012 2:18 AM ETBy: Yigal Grayeff, SA News Editor1 Comment
As expected, the Reserve Bank of Australia keeps its key interest rate at 3.5%, the highest among major developed countries. The decision comes as the country's key mining industry copes with slowing Chinese growth, and follows cumulative cuts of 1.25% from November-June, which helped boost domestic spending and stabilize the housing market.

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