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News: Reserve Bank of Australia slashes rates to record low

  1. The Reserve Bank of Australia of Australia has cut the office cash rate by 25 points down to a record low of 2.25%. The change was the first in eighteen months.

    Financial market in the first few minutes after the decision has Australian equities higher as investors chase yield, but the Australian Dollar is weaker against the U.S.


    RBA governor Glenn Stevens, said in a statement:

    "Growth in the global economy continued at a moderate pace in 2014. China's growth was in line with policymakers' objectives.

    "The US economy continued to strengthen, but the euro area and Japanese economies were both weaker than expected.

    "Forecasts for global growth in 2015 envisage continued moderate growth."

     


    Proactive Investors Australia is the market leader in producing news, articles and research reports on ASX “Small and Mid-cap” stocks with distribution in Australia, UK, North America and Hong Kong / China.

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