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Australia Cuts Interest Rates
World Economy

Australia Cuts Interest Rates

The Reserve Bank of Australia has cut its key interest rate by 25 basis points to an all-time low of 2.25%, BBC reported. The cut was the first in 18 months. In reaction to the move, the benchmark S&P/ASX 200 hit a 7-year high, up 1.3%, while the Australian dollar slumped to a 6-year low of $0.7650.

 

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