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

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.
Comments (1)
  • schatzl
    , contributor
    Comments (391) | Send Message
     
    Only sensible thing they could do. Their main industry (mining) heading towards the doldrums and consumer spending slowing down on the one side and an overheated housing market on the other. Stay the course, hope for the best and press ahead.
    4 Sep 2012, 02:41 AM Reply Like
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