BREAKING NEWS

Now Reading:

Australia cuts interest rates again to boost economy


economy

Australia cuts interest rates again to boost economy

The Reserve Bank of Australia has cut interest rates for the second time in a year in bid to head off a strengthening Australian dollar and protect the economy against falling mining investment.

Prices for iron ore, Australia’s number one export, have halved in recent months.

Interest rates are now at a new all-time low of 2%.

Analysts warned past housebuilding booms were likely to be repeated, and flagged the Sydney property market in particular as close to overheating.

Government revenues in resource-rich Australia are particularly hard-hit by falls in commodity prices.

Every story can be told in many ways: see the perspectives from Euronews journalists in our other language teams.

Next Article

economy

Uber cabs drive into further trouble in Brussels