Australia maintains benchmark rate at 3.5% on stronger economy

Source: Bloomberg
The Reserve Bank of Australia left its key interest rate unchanged at 3.5% after two consecutive reductions in June and May.The central bank cited stronger local employment and advancing Aussie as conditions helping to curb excessive inflation.
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Tue, 03 Jul 2012 09:10:35 GMT

Yen depreciates versus peers on Asian stock rally

Japanese Yen weakened against most of its counterparts on Tuesday as Asian shares rallied for a fifth consecutive week on hopes the central bank will intervene more to promote growth. Yen slid 0.6% versus Euro to JPY 100.56 and gave up 0.3% against the US Dollar to JPY 79.78.

Tue, 03 Jul 2012 08:06:36 GMT

Housing approvals rallied in Australia in May

Australian home construction permits surged in May indicating that demand for housing my climb as RBA reduced the interest rates. The number of approvals to renovate or build apartments and houses jumped 27.3% compared to a 7.6% drop in April. Economists questioned by Bloomberg predicted a 5% advance. 

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