Business Services Industry
RBA to leave heavy work to US.
Australasian Business Intelligence, November, 2001
Nov 8, 2001 (The Australian Financial Review
ABIX via COMTEX) -- The cut in US interest rates, announced on 7 November 2001, will help Australia's economy. RBC Capital Markets strategist, Monica Fan, said aggressive action by the US Federal Reserve was reducing the need for the Reserve Bank of Australia (RBA) to take action. Market interest rates in Australia are at their lowest point in 30 years and the Australian dollar is very competitive. The Australian economy is also being boosted by the continued strength of the housing sector. It is expected that the RBA will cut interest rates at its December meeting, however, to mitigate the effects of slowing global growth.
UNITED STATES. FEDERAL RESERVE
BOARD:
RESERVE BANK OF AUSTRALIA:...
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