BBC News - Australia cuts interest rates in a bid to boost growth - 0 views
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The bank cut its key rate to 3.5% from 3.75%.
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Yihan Li on 07 Jun 12Australia's central bank cut its interest rate, which is a monetary policy. This is intended to increase consumption and investment, thus the aggregate demand
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At the same time, domestic demand has also been stagnant despite efforts to spur consumption.
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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.
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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.
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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.
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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.
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There have been concerns that Australia's resources-led boom may be hurt by falling demand due to a slowdown in global growth.
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In China, one of the biggest markets for Australian commodity exports, both the manufacturing and non-manufacturing sectors have seen the pace of growth slow in May, raising concerns about a slowdown in its economy.
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Meanwhile there have been fears about the recovery in the US economy losing its pace after it reported weaker-than-expected jobs data for May.
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accommodative stance
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The country's housing market has seen prices fall and continues to remain subdued despite earlier cuts to the cost of borrowing