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I think they see the POOM tsunami coming, but sadly this 1ft sand barrier won't do much to help I am affraid.
Better than nothing I guess.
Better than nothing I guess.
SYDNEY (AP) -- Australia's central bank raised its key interest rate Tuesday by a quarter percentage point for the second month in a row, declaring the global downturn over and warning that inflation was set to rise.
The decision to hike rates was widely expected by analysts and moves Australia further away from most economies, which have yet to respond to signs that the financial crisis has eased by raising lending rates.
The Reserve Bank of Australia board decided at its monthly meeting to raise the cash rate by 25 basis points to 3.5 percent. A month earlier, Australia became the first major economy to raise interest rates since the outbreak of the crisis when the bank hiked its key rate by a quarter point from a 50-year low.
Full Article Here.
The decision to hike rates was widely expected by analysts and moves Australia further away from most economies, which have yet to respond to signs that the financial crisis has eased by raising lending rates.
The Reserve Bank of Australia board decided at its monthly meeting to raise the cash rate by 25 basis points to 3.5 percent. A month earlier, Australia became the first major economy to raise interest rates since the outbreak of the crisis when the bank hiked its key rate by a quarter point from a 50-year low.
Full Article Here.
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