RBA reduces its interest rate

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Source: Bloomberg
Reserve Bank of Australia lowered its key interest rate to the record low since 2009 on worries that debt trouble in Europe and slower China growth may harm nation's growth. RBA cut the rate from 3.75% to 3.5%. Australia faces an unemployment rate of 4.9% and its biggest companies suffer from a price decline in commodities markets. Aussie climbed 0.4% versus US Dollar prior to the announcement.  
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Tue, 05 Jun 2012 07:00:16 GMT

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