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RBA Minutes: No Concerns over Growth or Inflation

Australia’s central bank said the pace of economic growth should pick up gradually in the next few years without inflation being a problem, a benign mix that might provide it with the scope to cut interest rates further if needed. In minutes of its Feb. 2 meeting, where the Reserve Bank of Australia (RBA) kept …

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Uncertainty Builds Over Effectiveness of Central Banks

Global equities tumbled into a bear market overnight as financial markets signalled that investors have lost faith in central banks’ ability to support the worldwide economy. The MSCI All Country World Equity Index ended a torrid session 20.18 per cent from its May 21, 2015 record high close, confirming global stocks were in a bear …

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AUD/USD Back Below 0.71 on Solid U.S. Jobs

A solid jobs report for the United States has revived the US dollar and provided crucial support for Federal Reserve chief Janet Yellen, who will appear before Congress this week to deflect criticism about the Fed’s decision to raise interest rates in December. The support for the US dollar brought on the worst session for …

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AUD/USD Surges Close to 0.72 on Dovish Fed

The Australian dollar has rallied on the back of a broad greenback sell-off triggered by weaker-than-expected US economic data. At 7am (AEDT), the local unit was trading at US71.80 cents, up from US70.21 cents yesterday. The currency climbed to a one-month high of 71.88 US cents earlier in the session. The US service sector expanded …

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