Australia lowers key cash rate amid bleak economic outlook

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Source: Marketwatch
© Scanpix/RS

Central bank of Australia decreased the key interest rate for the second consecutive month amid concerns about deteriorating global economic situation and lower domestic inflation worries. The Reserve Bank of Australia cut the key cash rate to 4.25% while some analysts expected the rate to remain unchanged.

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Tue, 06 Dec 2011 08:36:22 GMT

Gold declines on optimistic outlook on the euro-zone

Gold futures experienced essential losses falling below three-day low following the meeting of Angela Merkel, German Chancellor, and Nicolas Sarkozy, French President that added optimism for progress in combating with the euro-zone crisis. On the Comex division of the New York Mercantile Exchange gold futures for delivery in February were traded at USD1,748.15 a troy ounce at the early U.S. trade, easing down by 0.18% since opening.     

Tue, 06 Dec 2011 08:34:54 GMT

Japan's Q3 growth forecast downgraded

Japan's Q3 growth of the GDP is going to be downgraded to an annual increase of 5.1% from 6.0% expected. Experts explain the decrease as a result of lower capital investment, reported Market New International. However, preliminary data of the GDP indicated the country's economy increased 1.5% on a quarterly basis indicating the first increase in the last four quarters.

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