Reserve Bank slashes rates, page 1
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Topic started on 7-10-2008 @ 12:20 AM by Shere Khaan

Reserve Bank slashes rates


www.abc.net.au
The Reserve Bank of Australia has suprised financial markets by slashing interest rates by 1 per cent because of the severe international financial conditions.

Most economists had been predicting a cut of 0.5 per cent.

Today's cut is the first official one-percentage point move since 1994, when rates increased by 1 per cent.
(visit the link for the full news article)

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[edit on 7/10/2008 by Badge01]


reply posted on 7-10-2008 @ 01:25 AM by InfaRedMan
reply to post by Shere Khaan



I just turned on 774 ABC and heard them raving on about it. Good news I guess, however, like all interest rates changes, they are only temporary either way. I'll just cross my fingers now in the hope that America doesn't pull us down the *snip* chute with them.


IRM


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[edit on 7/10/2008 by Badge01]

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