RBA goes for accommodative policy

Source: RTTNews
© Scanpix/FP
Reserve Bank of Australia's policy makers decided that the central bank's monetary policy needs to become more accommodative, RBA's October meeting minutes showed on Tuesday. The bank mentioned that the pace of domestic expansion may be slower than original estimates, adding signs to global growth slowdown. At the meeting, the monetary policy board cut the cash rate by 25 basis points to 3.25.
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Tue, 16 Oct 2012 09:26:22 GMT

Brent Oil premium reaches one-year high

Brent oil premium against WTI has reached one-year peak, as the difference has climbed to $24.28 a barrel during New York trading session. Oil premium rises as investors are concerned about possible supply disruptions from the North Sea region and the Middle East. Also, markets stay cautious as the European Union tightens up Iran's energy exports sanctions. Investors of oil

Tue, 16 Oct 2012 08:19:21 GMT

Wheat slumped on weak demand for US shipments

Farm commodities plunged on Monday as favorable weather conditions accelerated harvesting in the US and Brazil. Slightly lower US Dollar despite encouraging national data restricted losses of rural commodities. Wheat lost almost 1% after US numbers showed that farmers sold only 14,200 tons of grain last week, the lowest level since June.Corn was the top-loser as US harvesting is accelerating.

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